The UK Takeover Code - 12 Months on from the Overhaul

    View Authors September 2012
    On 19 September 2011, the City Code on Takeovers & Mergers (the “Takeover Code”) underwent one of the most significant overhauls of recent times, in the wake of the controversy around Kraft Foods’ takeover of Cadbury the previous year.

    Significant market interest and press commentary surrounded those changes. The article attached in the link below looks at some of the key changes made to the Takeover Code in September of last year, reviews the impact that those changes have had on UK takeover transactions since their implementation, raises some outstanding questions which result from the new provisions and identifies some areas where further changes to the Takeover Code (or at least the issue of further formal guidance) may be required or helpful.