UK Panel Urges Tougher M&A Laws After Kraft-Cadbury

Law360, New York (October 21, 2010, 2:57 PM EDT) -- A committee tasked with reviewing the United Kingdom's mergers and acquisitions code in the wake of Kraft Foods Inc.’s controversial takeover of Cadbury PLC has recommended that would-be acquirers of British companies be forced to “put up or shut up” within four weeks of when the potential acquisition is publicly announced.

The change is aimed at reducing the length of so-called virtual bids, when one company has shown an interest in acquiring another but not stated a firm intention to do so, according to Thursday’s report...
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