Thursday 25 July 2013

UK: Takeover Code - new edition to take effect on 30 September 2013

The Code Committee of the Takeover Panel has announced that a new edition of the City Code on Takeovers and Mergers will take effect on 30 September 2013. The new edition contains changes made in response to the Committee's consultation last year on profit forecasts, quantified financial benefits and material changes in information (focusing, in particular on rules 27 and 28 of the Code; see here, pdf). The amendments to the Code are contained in Instrument 2013/4 (herepdf) and further information about the changes is available in the Code Committee's Response Statement 2012/1 (herepdf). A copy of the new Code will be published on 30 September.

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