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35.2 ACQUISITIONS BEFORE THE OFFER

In the case of an offer which could result in the Bidder and persons acting in concert with it being interested in shares carrying 30% or more but holding less than 100% of the voting rights of a company, such consent will not normally be granted if the Bidder or persons acting in concert with it have acquired, selectively or in significant numbers, interests in shares in the Target during the 12 months preceding the application for consent or if interests in shares have been acquired at any time after the partial offer was reasonably in contemplation.