The Code Committee of the Takeover Panel has published a consultation paper setting out proposed amendments to various provisions in the Takeover Code: see here (pdf). It is, for example, proposed that the deadline for a potential competing offeror to clarify its position should be a firm date set out in the Code and not, as present, a flexible date set by the Panel on a case by case basis.
Friday 18 July 2014
UK: Takeover Code - consultation on proposed amendments
The Code Committee of the Takeover Panel has published a consultation paper setting out proposed amendments to various provisions in the Takeover Code: see here (pdf). It is, for example, proposed that the deadline for a potential competing offeror to clarify its position should be a firm date set out in the Code and not, as present, a flexible date set by the Panel on a case by case basis.
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