Exploring Corporate Governance Around the World

By Allison Garrett, Senior Vice President for Academic Affairs at Oklahoma Christian University

Monday, February 13, 2006

UK Panel on Takeovers and Mergers Issues Consultation Paper

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.

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