Which companies are covered by the Takeover Code?

The Takeover Code applies to all public companies in the UK, irrespective of their specific listing or whether they are listed on the main stock exchange or an alternative market. This broad coverage ensures that the principles governing takeovers, such as fairness, protection of shareholders, and transparent processes, are consistently applied to all public companies. This helps maintain a level playing field in corporate governance and protects investors by imposing clear rules on how takeovers should be conducted.

Other options, like only covering national companies or limiting coverage to foreign entities, do not reflect the comprehensive scope of the Takeover Code, which is designed to encompass all public entities to safeguard the interests of shareholders equally, regardless of how or where they are listed. Therefore, the inclusion of all public companies is essential for facilitating an orderly market and encouraging investor confidence across the entire UK public company landscape.