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City Code |
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City CodeThe rules which govern the management and timing of takeover bids involving companies listed on the London Stock Exchange, written and enforced by the Panel on Takeover and Mergers.The objective of the City Code is to ensure that high standards of integrity and fairness are maintained, and that shareholders in both bidding and target company are treated equitably.The Panel is not concerned with the financial or commercial advantages or disadvantages of a takeover, nor is it concerned with competition issues.The City Code does not have the force of law, but, as the Code says 'those who seek to take advantage of the facilities of the securities markets in the United Kingdom should conduct themselves in matters relating to takeovers in accordance with best business standards and so in accordance with the Code'. It goes on to say that 'Those who do not so conduct themselves may find that, by way of sanction, the facilities of those markets are withheld.'Panel on Takeovers and MergersPO Box 226The Stock Exchange BuildingLondonEC2P 2JXTel: 020 7382 9026http://www.thetakeoverpanel.org.ukSimilar MatchesConstant elasticity of substitution functionConstant elasticity of substitution functionSee CES function The CityThe CityThe financial community in the City of London which traditionally operates out of 'the Square Mile' although increasingly the big securities houses and firms of accountants are basing themselves east of the City in Docklands. Price elasticityPrice elasticityThe elasticity of supply or demand with respect to price. Scarcity rentScarcity rentAn economic rent that is due to something being scarce. ElasticityElasticityA measure of responsiveness of one economic variable to another -- usually the responsiveness of quantity to price along a supply or demand curve -- comparing percentage changes (%D) or changes in logarithms (d ln). The arc elasticity of x with respect to y is e = %Dx/%Dy. The point elasticity is e = d lnx/d lny = (y/x)(dx/dy). Further SuggestionsCity code on takeovers and mergersDemand elasticity Elasticity of demand for imports Debt capacity Import demand elasticity Kansas City Board of Trade (KCBT) Income elasticity Capacity building Import elasticity Specificity rule Cross elasticity Elasticity of demand for exports Factor scarcity Elasticity of substitution Supply elasticity Assimilative capacity Arc elasticity Velocity Armington elasticity Reciprocity Point elasticity incapacity benefit Optimum capacity Specificity |
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