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About: Criterion Properties plc v Stratford UK Properties LLC     Goto   Sponge   NotDistinct   Permalink

An Entity of Type : yago:YagoPermanentlyLocatedEntity, within Data Space : dbpedia.demo.openlinksw.com associated with source document(s)

Type: agentyago:Abstraction100002137yago:Case107308889yago:Event100029378yago:Happening107283608yago:PsychologicalFeature100023100yago:YagoPermanentlyLocatedEntity New Facet based on Instances of this Class

Criterion Properties plc v Stratford UK Properties LLC [2004] UKHL 28 is a leading UK company law concerning that a board of directors may employ to prevent a bidder buying shareholders' shares without the board's consent. It held that it is an improper use of a directors' power to frustrate a takeover bid through issuing a poison pill. For public companies, the case is superseded by Rule 21 of the City Code on Mergers and Takeovers, which prohibits any action that frustrates a takeover bid.