Cash Confirmation Escrows - what you need to know
LawDeb has significant experience in providing cash confirmation escrows demonstrating certainty of funds for listed company acquisitions in accordance with rules 2.7 and 24.8 of The City Code on Takeovers and Mergers.
Cash confirmation is a requirement in the UK's Takeover Code. It is designed to ensure that a bidder has enough funding available to support their offer. It is required whenever an offer is made in cash or includes cash. It is included in the offer document and firm offer announcement.
A third party, for example the bidder's financial advisor or bank, confirms that the bidder has the resources to accept the offer. As an established escrow provider LawDeb acts as escrow agent on numerous transactions of this sort.
