New Zealand: Takeovers Panel recommends changes to the Takeovers Code

The New Zealand Takeovers Panel has recommended changes to the Takeovers Code: see here. Amongst the recommendations is one designed to improve the quality of disclosure regarding the intentions of the offeror company in respect of the target company: the Panel recommends that clause 14(1) of Schedule 1 of the Code should be amended to require the offeror company to disclose its intentions regarding material changes to the target company's business activities, assets and capital structure (including dividend policy).