UK: Takeover Panel consults on amendments to Rule 29 of the Takeover Code

Earlier this month the Takeover Panel Code Committee published a consultation paper setting out proposed changes to Rule 29 ("Asset valuations") of the City Code on Takeovers and Mergers: see here (pdf). The intention is that Rule 29 should be amended in order that it better reflects the current practice of the Panel Executive. The intention is not, therefore, to alter materially the manner in which Rule 29 is currently applied.