UK: Takeover Code amendments published

Yesterday the Takeover Panel Code Committee published a response statement (RS 2011/1) following its review of certain aspects of the regulation of takeover bids: see here (pdf). The Committee will be adopting the amendments it proposed earlier this year - see PCP 2011/1, here (pdf) - with some minor (but not material) changes. These amendments are set out in Instrument 2011/2, available here (pdf), and take effect on 19 September; information regarding their implementation, and transitional arrangements, are explained here (pdf). The Code Committee has also announced some other changes to the Code and the Rules of Procedure of the Hearings Committee: these are contained in Instrument 2011/1, available here (pdf), and have immediate effect.