No intention to make an offer for BCA Marketplace plc (“BCA”)

 

6 July 2018

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

FOR IMMEDIATE RELEASE

6 July 2018

No intention to make an offer for BCA Marketplace plc (“BCA”)

Further to its announcement of 10 June 2018, Apax Partners LLP (“Apax”) confirms that neither Apax nor any funds advised by Apax (the “Apax Funds”) intend to make an offer for BCA.  This is a statement to which Rule 2.8 of the Takeover Code (the “Code”) applies.

Takeover Code note

Under Note 2 on Rule 2.8 of the Code, Apax and the Apax Funds reserve the right to set the restrictions in Rule 2.8 aside in the following circumstances:

a)     with the agreement of the board of BCA;

b)     if a third party announces a firm intention to make an offer for BCA;

c)     if BCA announces a “whitewash” proposal (see Note 1 of the Notes on Dispensations from Rule 9) or a reverse takeover (as defined in the Code); or

d)     if there has been a material change of circumstances (as determined by the Takeover Panel).

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