UK Panel Urges More Transparency For Merger Fees

Law360, New York (March 21, 2011, 1:48 PM EDT) -- A committee tasked with reviewing the United Kingdom's mergers and acquisitions code in the wake of Kraft Foods Inc.’s controversial $19 billion takeover of Cadbury PLC proposed a host of new rules Monday, including mandatory fee disclosures.

The fees garnered by lawyers, financial advisers, public relations professionals, accountants and others would have to be disclosed in any offering document if the proposed rules become final, according to a consultation paper prepared by the Code Committee of the Panel on Takeovers and Mergers.

Financing fees and advisory...
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