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Sealy & Worthington's Text, Cases, and Materials in Company Law

Sealy & Worthington's Text, Cases, and Materials in Company Law (12th edn)

Sarah Worthington and Sinéad Agnew
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date: 21 April 2024

p. 81315. Reconstructions, Mergers and Takeoverslocked

p. 81315. Reconstructions, Mergers and Takeoverslocked

  • Sarah WorthingtonSarah WorthingtonDowning Professor of the Laws of England and Fellow of Trinity College University of Cambridge Academic Member, South Square, Gray’s Inn
  •  and Sinéad AgnewSinéad AgnewCatherine Seville Assistant Professor in Law and Fellow of Newnham College University of Cambridge Associate Member of Serle Court, Lincoln’s Inn

Abstract

This chapter considers public disclosure, market regulation and the public investigation of companies. The ‘price’ that companies are required to pay for the privilege of incorporation (separate personality) and limited liability is compulsory publicity about their affairs. The Companies Acts’ disclosure rules are largely based on this philosophy. This chapter discusses general disclosure obligations; public regulation of securities markets; transparency obligations; disclosure and public offerings of shares; market abuse and market manipulation; and public investigation of companies.

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