A New Era In UK Takeover Regulation

Law360, New York (October 11, 2011, 6:47 PM EDT) -- Significant changes to the U.K. Takeover Code took effect on Sept. 19, 2011, and will impact the manner in which private equity houses conduct takeovers of U.K.-listed or other companies subject to the code (public to private transactions).

The changes arose after a review by the U.K. Takeover Panel following the furore surrounding Kraft's takeover of Cadbury in 2010. There was a general concern that offerers had gained tactical advantages over targets in public takeovers and that protracted "virtual offers" (where an offerer could make an...
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Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.