On 23 October 2015, the Code Committee of the Takeover Panel published response statement RS 2015/3 on the introduction of three new presumptions to the definition of "acting in concert" in the Code. This statement was made in response to the Code Committee's publication of a consultation paper on 14 July 2015. The statement makes clear that the Code Committee is proceeding with the amendments to the Code in substantively the same form as those suggested in the consultation paper.
The amendments to the Code came into force on 23 November 2015.
The response statement can be accessed at:
http://www.thetakeoverpanel.org.uk/wp-content/uploads/2008/11/RS201503.pdf
For a summary of the consultation paper of 14 July 2015, our Q3 2015 Governance and Securities newsletter is available at:
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
