The Takeover Panel - Publication by the Code Committee of PCP 2011/1
The Code Committee of the Takeover Panel has today published a public consultation paper, PCP 2011/1, setting out proposed amendments to the Takeover Code.
Proposals aim to:
- increase the protection for offeree companies against protracted "virtual bid" periods by requiring potential offerors to clarify their position within a short period of time;
- strengthen the position of the offeree company
- increase transparency and improve the quality of disclosure
- provide greater recognition of the interests of offeree company employees.