A “concert party” is a group of people who show up together in a takeover bid. In the United Kingdom, there are rules governing these offers, which are regulated by regulatory authorities such as the takeover body. There is a 30% threshold from which a firm offer must be made. This is considered achieved when a concert company collectively owns 30% of a company`s shares, not if one of them does so. The same applies to other holdings in financial instruments such as derivatives. It is presumed that certain entities act in concert, unless otherwise stated. These include directors, subsidiaries, associated companies and the bidder`s parent company. Even companies that are not part of a joint venture may find that they are subject to rules: they are required to disclose transactions in proportion to the bidder or objective. These “partners” are persons interested in the outcome of the offer (except as shareholders only), but do not act intentionally in consultation with the bidder, an example of associated companies are the directors of the target company, even if they do not act with the bidder or a potential counter-bidder in consultation.