Mapping The Revised UK Takeover Landscape

Law360, New York (September 11, 2013, 2:41 PM EDT) -- The U.K. Takeover Panel has recently announced two sets of changes to be made to the City Code on Takeovers and Mergers (the “Takeover Code”) (which is the principal source of regulation for U.K. take private transactions).

The first change, which came into force on May 20, 2013, requires a bidder to provide more disclosure of the impact of a proposed offer on the target company’s defined benefit pension schemes, and allows the trustees to take a public position on the offer and obliges the bidder...
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