Part 1Digital Markets

Chapter 5Mergers

64Timing of a reportable event

Where a reportable event results from an agreement providing for P to acquire shares or voting rights, or to form a joint venture vehicle together with at least one other person, the event is to be treated as taking place for the purposes of section 57(1) and section 63(1) when P becomes unconditionally obliged to acquire the shares or voting rights, or to form the joint venture vehicle.