UK takeover rules to be reviewed
25 February 2010 09:48
The Takeover Panel has announced that it will be starting a consultation to find if the takeover system can "usefully be improved".
The Takeover Panel is an independent body, established in 1968, whose main function is to supervise and regulate takeovers in the UK.
The move has been prompted by the recent acrimonious and controversial takeover of Cadbury by Kraft. In a statement, the Takeover Panel said: "In the light of recent commentary and public discussion and suggestions for consideration from the Secretary of State for Business, Innovation and Skills and others, the Code Committee has decided to initiate a consultation to consider whether certain Code provisions and the timetable for determining the outcome of offers could usefully be improved".
The Panel said that it would publish a public consultation paper on these matters "as soon as practicable".
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