No intention to make an offer for BCA Marketplace plc (“BCA”)
6th July 2018
Apax 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 maFurther 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.
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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).