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Squeeze-out right meaning

What does Squeeze-out right mean?
In practice, a squeeze-out right is the offeror’s statutory power, following a successful takeover offer, to compulsorily acquire the remaining minority shares in the offeree so it can achieve 100% ownership on the same terms as the offer. In the UK (England & Wales, Scotland and Northern Ireland), the regime is set out in the Companies Act 2006 (CA 2006, ss 974–991). The right is exercisable once the offeror has acquired, or contracted to acquire, at least 90% of the shares to which the offer relates and, where relevant, at least 90% of the voting rights carried by those shares. The statute prescribes notice, timing and procedural requirements, and the consideration must mirror the takeover offer. Limited court challenge rights apply. The mechanism operates alongside the UK Takeover Code. The term is used consistently across the UK and Ireland to describe this form of compulsory acquisition after a takeover bid. In Ireland, a broadly similar statutory squeeze-out framework applies under company law and the Irish Takeover Rules, typically triggered at a high acceptance threshold, with analogous notice and payment requirements. Squeeze-out rights are commonly discussed together with sell-out rights, which allow remaining minorities to require the offeror to buy their shares on...
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CHECKLISTS
Investigatory Powers Act 2016: offences, statutory defences and maximum sentences—practitioner checklist (UK)

The Investigatory Powers Act 2016 (IPA 2016) revamped the legal regime regulating covert surveillance by public authorities. IPA 2016 superseded large parts of the framework previously, though not solely, contained in the Regulation of Investigatory Powers Act 2000 (RIPA 2000). See Practice Note: The regulation of intelligence gathering—an introductory guide. This note outlines the offences introduced by IPA 2016. For details of general sentencing limits in a magistrates’ court, see Practice Note: Sentences imposed following conviction—General limits on magistrates’ courts powers to impose custodial sentences following conviction... Section Offence Statutory defence Maximum sentence IPA 2016, s 3 — Unlawful interception: a person, by conduct in the UK, deliberately intercepts a communication during its transmission without lawful authority. Defence: where the individual has the right to control the operation or use of the system, or had that person’s express or implied consent to carry out the interception. Maximum sentence: on summary conviction, a fine; on indictment, up to two years’ imprisonment and/or a...

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CHECKLISTS
Tenant insolvency: practical checklist for commercial landlords—CRAR, forfeiture, rent deposits, guarantors/former tenants (s17), undertenant recovery, disclaimer, administration expenses, and securing/marketing premises (England and Wales)

This Checklist sets out the matters a landlord ought to weigh up where a tenant faces insolvency, highlighting the options open to the landlord, such as Commercial Rent Arrears Recovery (CRAR), forfeiture, drawing on a rent deposit, and pursuing former tenants, guarantors and sub-tenants. It further addresses practical considerations for the landlord, including steps for securing and marketing the property, and contacting the insolvency practitioner. What type of insolvency scenario applies to the tenant? The remedies that can be exercised, and the limits that will bite, differ depending on the particular insolvency arrangement affecting the tenant. Each procedure brings distinct constraints and options. For a table summarising the restrictions, see Practice Note: Quick guide to landlord’s remedies in tenant insolvency. Has contact been made with the insolvency practitioner? It is vital to liaise with the relevant insolvency practitioner to assess the tenant’s position and to evaluate what, if any, prospect exists of outstanding sums being repaid, future rents being protected, or the tenant emerging from the...

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CHECKLISTS
Applications for reporting restriction orders in family proceedings: procedural flowchart under the Family Procedure Rules 2010 PD12I and Cafcass Practice Note (England and Wales)

This flowchart sets out the steps to be taken on an application for a reporting restriction order under the Family Procedure Rules 2010, PD 12I (Applications for reporting restriction orders) and the Practice Note (Official Solicitor: Deputy Director of Legal Services: Cafcass: Applications for reporting restriction orders), also known as the Cafcass Practice Note. For comprehensive, practical guidance on each stage shown and on transparency in the family courts—covering overviews, Practice Notes, precedents, procedural guides, client guides, legislation, forms and further reading—see: Media access and transparency—overview, or select the related documents listed on the right-hand side of the flowchart. For focused guidance on reporting restriction orders, consult the following Practice Notes: Reporting restriction orders—procedure Reporting restriction orders and notifying the media For information about providing advance notice to the media of a reporting restriction order application, refer to: Giving advance notice to the media of a reporting restriction order application—flowchart. For the full collection of Lexis+® UK flowcharts spanning numerous...

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FLOWCHARTS
Flowchart: Lodging and Progress of Bills of Advocation in Scottish Summary Criminal Proceedings

STOP PRESS: This document is currently being updated to take account of the full implementation of the Data (Use and Access) Act 2025 (DUAA 2025), which amends both the UK GDPR and the Data Protection Act 2018. For further guidance on the compliance consequences of DUAA 2025, see Practice Note: Data (Use and Access) Act 2025—compliance implications. The UK General Data Protection Regulation (UK GDPR) grants data subjects several rights, including, among others: access to their personal data rectification erasure restriction of processing data portability a right of data subjects Individuals may ask an organisation at any time of their choosing to exercise one or more of these rights, and strict time limits and deadlines apply to responding to such requests promptly. See Practice Note: How to handle data subject requests. This Flowchart sets out a process for dealing with data subject requests made under the UK GDPR and reflects the requirements in the UK GDPR together...

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FLOWCHARTS
Ireland: EU GDPR data subject requests-flowchart for handling access, rectification, erasure, restriction and portability, identity checks, time limits, complexity, unfounded/excessive requests, refusals, response format and temporary processing restrictions (DPC guidance)

The EU General Data Protection Regulation (EU GDPR) sets out several rights for data subjects, including the right to access their personal data, and rights to rectification, erasure, restriction of processing and data portability. Data subjects may ask an organisation to exercise one or more of these rights at any time, and strict deadlines apply to meeting such requests. For comprehensive guidance on managing data subject access requests, see Practice Note: Ireland-How to handle data subject access requests. This Flowchart outlines a process for dealing with data subject requests made under the EU GDPR. It reflects the Regulation’s requirements alongside guidance issued by the Data Protection Commissioner (DPC), and should be read with Practice Note: Ireland-How to handle data subject access requests and Ireland-Evaluating a data subject access request-flowchart, where relevant. Note 1-data subject requests The EU GDPR grants data subjects a number of rights, including: a right of access to their personal data rights to rectification, erasure and restriction of processing a...

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FLOWCHARTS
Bills of Suspension in Scottish Summary Criminal Cases: Process Flowchart

STOP PRESS: This document is being updated to reflect the implementation of the Data (Use and Access) Act 2025 (DUAA 2025), which amends the UK GDPR and the Data Protection Act 2018. For more guidance on the compliance implications of DUAA 2025, see Practice Note: Data (Use and Access) Act 2025—compliance implications. This document reflects the UK GDPR regime. All references and links to the GDPR refer to the UK GDPR (Assimilated Regulation (EU) 2016/679) unless expressly stated otherwise. The UK General Data Protection Regulation (UK GDPR) confers on data subjects a number of rights, including providing the right to restrict the processing of personal data. Individuals may submit a request to an organisation to exercise this right in particular circumstances. It is not, however, an absolute right. There are strict time limits for complying with such requests made. See Practice Notes: Rights of data subjects How to handle data subject requests This flowchart resource sets out a process for assessing...

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NEWS
Parking easement by prescription compatible with prior right of way; use ‘as of right’, not public; no entitlement to block access: Poste Hotels v Cousins [2020] EWHC 582 (Ch)

Poste Hotels Ltd v Cousins [2020] EWHC 582 (Ch) The central question was whether the defendant enjoyed a parking easement giving her the liberty to leave a vehicle in Church Court, Stamford. The County Court judge found that she had acquired such a parking right by prescription, and the claimant challenged that conclusion on appeal. What are the practical implications of this case? The ruling restates key principles on prescriptive easements that advisers should note: Where there are two plausible lawful bases for the use, and the pattern of enjoyment fits either explanation equally, use as of right is not made out A prior grant of a right of way across the car park did not prevent the car park owner from being capable of granting a (hypothetical) right to park, which would operate subject to the earlier right of way; however, the prior grant could not be disturbed Parking may still be ‘as of right’ even if it is exercised subject to the...

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NEWS
Court of Appeal (England and Wales) on satisfaction of consent orders, the same-damage bar and Tomlin order distinctions—Vanden Recycling v Kras Recycling

Original news Vanden Recycling Ltd v Kras Recycling BV [2017] EWCA Civ 354 What are the practical implications of this case? This ruling, in brief: affirms that once a judgment has been satisfied, further claims against other tortfeasors responsible for the same harm are generally precluded as a matter of course however, satisfying a settlement—rather than a judgment—will only preclude claims against other tortfeasors for the same harm if the amount agreed and paid was intended to determine and fix the claimant’s loss in full acknowledges (and succinctly sets out) the differences and practical distinctions between consent orders and Tomlin orders indicates that the court will look at the 'substance and effect' of a consent order’s terms and, if these are 'the same as would be made following a judgment', it is proper to treat the consent order as a judgment for the rule that satisfaction of a judgment bars claims against tortfeasors liable for the same damage (para [50]) ...

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NEWS
Property law weekly: contractual control transparency, EPC reforms, lease priority, Code redevelopment, option perpetuities, service charge timing/audits, business rates, planning consolidation, occupation rights — 12 March 2026

In this issue: Key developments and horizon scanning Environment, energy and buildings Transferring property Property development Property management Property taxes Property in Wales Property in Scotland Additional property updates this week Daily and weekly news alerts New and updated content Trackers Key developments and horizon scanning Government response to contractual controls on land consultation The Ministry of Housing, Communities and Local Government (MHCLG) (previously the Department for Levelling Up, Housing and Communities) has issued its reply to the consultation on contractual controls over land. The consultation sought opinions on proposals to improve openness around land held under private arrangements—such as options, conditional contracts and rights of pre-emption—by establishing a freely available dataset. MHCLG’s reply draws together respondents’ views and sets out decisions and forthcoming actions, including new duties to provide HM Land Registry (HMLR) with details of contractual control arrangements. MHCLG has also released draft regulations—The Provision of Information (Contractual Control)...

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PRACTICE NOTES
Contractual damages and remedies under English law: termination, causation, remoteness, mitigation, expectation/reliance/restitution, quantification (Ruxley), non-pecuniary loss, and liquidated damages versus penalties (Cavendish v Makdessi)

Overview This Practice Note forms part of our LLB Contract Law series for law students. It surveys the remedies for breach of contract, with damages at the heart of the common law response. Setting remedies within the framework of contract, it explains when a party may terminate—most notably for breach of conditions and of innominate (or ‘intermediate’) terms. It then sets out the expectation principle from Robinson v Harman (1848) 1 Exch 850, stressing that an award should put the claimant in the position they would have been in had performance occurred. The Note next traces the principal constraints on recovery—causation, remoteness, and the duty to mitigate—and discusses leading cases on mitigation to show how these limits operate even once breach is proved. It also considers alternative measures—expectation, reliance and, in rare cases, restitutionary recovery—before addressing quantification, including the contrast between ‘difference in value’ and ‘cost of cure’ illustrated by Ruxley Electronics v Forsyth [1996] AC 344. Finally, it deals with non-pecuniary loss and the contemporary approach to liquidated...

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PRACTICE NOTES
Public sector equality duty in Wales: specific duties, equality impact assessments, objectives, gender pay action plans, procurement and enforcement (Equality Act 2010 (Statutory Duties) (Wales) Regulations 2011)

The public sector equality duty (PSED) Set out in Part 11 of the Equality Act 2010 (ss 149–159), the public sector equality duty (PSED) comprises a general equality duty applying UK-wide to public bodies listed in Schedule 19 of the EqA 2010, alongside specific duties intended to support delivery of the general duty and enhance transparency. Although the general duty is identical across England, Wales and Scotland, the specific duties made under EqA 2010, s 153 vary. In Wales, listed public bodies must meet particular specific duties that sit alongside the UK-wide general duty. These specific duties bind listed Welsh bodies only. They do not extend to non-devolved public authorities operating in Wales. Under EqA 2010, s 149, the general duty requires public authorities and those exercising public functions to have 'due regard' to the need to: eliminate discrimination, harassment, victimisation, and any other behaviour prohibited by or under the EqA 2010 advance equality of opportunity between people who share a relevant protected characteristic and...

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PRACTICE NOTES
CVAs and commercial leases: landlord impacts on rent, moratoria, termination options, forfeiture, surrender, guarantees, rent reviews and LTA 1954 issues (England and Wales)

What is a CVA? A company voluntary arrangement (CVA) is a form of insolvency that permits a company to enter a binding agreement with its creditors to compromise unsecured debts or otherwise agree how its affairs are handled. The directors continue to run the business, under the oversight of an insolvency practitioner. Retailers, particularly those with extensive property portfolios, frequently adopt so‑called ‘landlord CVAs’ to reset rental commitments and shut loss‑making stores. This note outlines how property law and landlord and tenant considerations may emerge under such a CVA. It highlights provisions commonly included in CVAs and explains how they tend to work in practice. Nevertheless, each CVA will vary according to the precise terms proposed. It is therefore vital to examine the CVA proposal carefully to assess its effect on creditors. This note does not provide detailed guidance on the mechanics of approving and implementing a CVA. For Practice Notes addressing the CVA procedure, see: Company voluntary arrangements—an introductory guide The CVA proposal and...

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PRECEDENTS
Statutory Carer’s Leave: Model Employer Policy for Great Britain — entitlement, dependants, long‑term care need, notice, postponement, pay and return to work

1 Introduction 1.1 This policy explains how [ insert name of organisation ] (the Company) will handle the statutory entitlement that permits employees to take unpaid time away from work to organise or provide care for a dependant with a long-term care need, and sets out the steps you should follow if you need to request this leave. 1.2 [ This policy applies solely to employees. It does not extend to agency workers, consultants [ , contractors ] [ , volunteers ] [ , interns ] or casual workers. OR This policy applies to all employees, officers, agency workers, consultants [ , contractors ] [ , volunteers ] [ , interns ] and casual workers. ] 1.3 This policy has been [ agreed OR introduced following consultation ] with [ [ enter name of relevant trade union(s) ] OR [ enter name of works council ] OR [ enter name of staff association ] ]. 1.4 In some circumstances, you may have the right to take...

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PRECEDENTS
Adapting share purchase agreements to Scots law: drafting amendments, CTPRS third party rights, assignation, execution, governing law, and Scottish property warranties and schedules

Date provision Substitute the date clause in the share purchase agreement (SPA) with the following updated wording to read: This Agreement is delivered on [ insert day and month ] 20[ insert year ] Recitals Recital (B) Remove ‘legal and beneficial’ from Recital (B) entirely. Definitions Revise the following existing definitions set out in clause 1 (Definitions and interpretation) of the relevant precedent SPA (where used in the SPA): Definition of ‘Business’ Replace ‘the City of London’ with ‘[ Edinburgh OR Glasgow OR Aberdeen ]’ instead. Definition of ‘CRTP’ Replace the definition of ‘CRTP’ with the following new definition: CTPRS means Contract (Third Party Rights) (Scotland) Act 2017; Definition of ‘Encumbrance’ Delete ‘assignment’ immediately preceding ‘right of first refusal’, as Scots law uses assignation rather than assignment. Delete ‘legal or equitable’ immediately preceding ‘third party right’, as Scots law does not recognise this separation of ownership...

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PRECEDENTS
Precedent: bank account charge over blocked accounts (chargor-specific monies) for syndicated facilities (England and Wales)

This Deed is made on [ insert day and month ] 20[ insert year ] Parties [ Insert name of Chargor ], being a company incorporated in England and Wales, with registered number [ insert company number ], and whose registered office is at [ insert address ] (the “ Chargor ”); and 1 [ Insert name of Security Agent ], acting as security agent and trustee for the Finance Parties pursuant to the terms and conditions set out in the [ Facilities Agreement OR Intercreditor Agreement OR Security Trust Deed ] (the “ Security Agent ”). Recitals: (A) The Finance Parties have consented to provide loan facilities subject to the terms and conditions set out in the Facilities Agreement (as defined below). (B) As a condition precedent to the loan facilities becoming available, the Chargor must execute this Deed for the purpose of granting security in favour of the Security Agent in relation to the Secured Obligations (as defined below)...

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Q&As
Right to Rent duties for housing associations (PRPs): JCWI v SSHD

Right to rent scheme The duties imposed by the right to rent scheme extend to all relevant lettings described in Practice Note: Residential tenancies—a tenant’s right to rent under the Immigration Act 2014, except where a letting is an excluded tenancy set out in Schedule 3 to the Immigration Act 2014 (IA 2014), also cited in that Practice Note. Be aware that social housing—as defined in IA 2014, Sch 3—is outside scope entirely...

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Q&As
Can a personal representative recover leasehold service charges from beneficiaries in occupation?

For the purposes of this Q&A, it is assumed that: the leasehold property forms part of the unadministered Estate the Estate bears the primary responsibility to pay the service charge the beneficiaries in occupation have a right to occupy the leasehold property Whilst the Estate is being administered, legal ownership of the deceased’s unadministered assets is vested in the personal representatives (PRs) for the purposes of administration and to carry out that administration. In the meantime, no beneficiary, whether taking under the deceased’s Will or by intestacy, has any proprietary interest in any particular or identifiable asset comprised within the unadministered Estate, nor any enforceable claim to such an item. See Practice Note: Beneficiaries’ rights and remedies. The PRs hold extensive powers to administer and manage the deceased’s Estate...

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Q&As
Improperly executed AST: periodic tenancy and termination rules?

Assured shorthold tenancies An Assured Shorthold Tenancy (AST) is a form of assured tenancy that permits a landlord to rent out a dwelling, while still keeping the ability to recover possession of the property once the term finishes. This differs from regulated and other assured tenancies, where the occupier might have a right to remain in the home when the term ends. For further detail, see Practice Note: A summary of types of private residential tenancies, under the heading A summary of types of private residential tenancies—Assured shorthold tenancies. As to how an AST arises, the starting position is that any residential letting granted on or after 28 February 1997 will, by default, be an AST, unless the landlord has served a notice on the tenant confirming that the tenancy will not be an AST...

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