The UK's Panel on Takeovers and Mergers has issued a Consultation Paper containing proposed revisions to the Takeover Code. Comments are due by March 10.
Topics addressed in the Consultation Paper include:
- a new definition of the UKLA Rules;
- amendments regarding responsibility statements;
- minor amendments to the Listing Rules;
- amendments relating to suspensions of securities admitted to trading;
- disclosure of certain dealings during an offer period;
- changes to the definition of "dealings";
- directors' service contracts;
- financial information regarding offeree companies;
- partial offers; and
- borrowed shares.