The UK Takeover Panel consults on major changes to the Takeover Code

Proposed changes to the UK Takeover Code include simplifying and adding flexibility to the timetable applicable to contractual offers, as well as making offer conditions relating to antitrust clearances subject to the same materiality requirement which applies to other offer conditions. Following an informal consultation process earlier this year, the UK Takeover Panel (Panel) has issued a formal consultation exercise on a number of proposed changes to the UK Takeover Code (Code). The changes are the most extensive amendments proposed by the Panel for a number of years, and are likely to change the way in which takeovers are conducted in the United Kingdom. In particular, the changes will impact takeovers being conducted by means of a contractual offer (as opposed to a scheme of

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Authors

  • Morgan Lewis (London)
  • Morgan Lewis (London)

Quotation

Iain Wright, Tomasz Wozniak, The UK Takeover Panel consults on major changes to the Takeover Code, 27 October 2020, e-Competitions October 2020, Art. N° 97802

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