Companies Act

937. Directors of merging companies to prepare explanatory report relating to proposed merger

Edition: 2024-12-27 · In force

(1)The directors of each of the merging companies shall prepare and adopt a report that complies with subsection (2).

(2)A report complies with this subsection if it includes—

(a)the statement required by section 924; and

(b)insofar as that statement does not deal with the following matters, a further statement—

(i)setting out the legal and economic grounds for the draft terms, and in particular for the share exchange ratio; and

(ii)specifying any special valuation difficulties.

(3)This section is subject to section 944.