An overview of issues for lenders financing an acquisition, whether by way of a bid or a scheme of arrangement, that must comply with the City Code on Takeovers and Mergers (also known as the Takeover Code or Code). This type of acquisition will often be of a public company. This note covers how the Code affects lenders financing an offer because of the Code's secrecy and certain funds provisions. It also covers financial assistance, re-registration of the target as a private company, squeezing-out minority shareholders and the timing of taking security from the target group.