UK: Takeover Panel consultations - electronic communications and miscellaneous amendments

The UK's Takeover Panel has published two consultation papers, for which responses are invited by 17 October:

[1] Miscellaneous Code Amendments (2008/2) - the Panel proposes amending Rules 2, 8, 9, 35 and 28. These amendments are intended to clarify the application of existing Code provisions or to codify existing practice in relation to matters which are not currently covered by the Code.

[2] Electronic Communications, Websites and Information Rights (2008/3) - the Panel proposes that the Code should be amended to:

• enable electronic forms of communication to be used to send documents and information to shareholders and certain other relevant persons;
• facilitate and require a wider use of websites by parties to offers; and
• ensure that persons nominated to enjoy “information rights” receive the same information as shareholders.