Author: Joanna Healey

Takeover Panel proposes updates to its concert party rules

The Takeover Panel has published proposals to amend the presumptions to the definition of "acting in concert" in the Takeover Code. Certain of the presumptions to the definition have been largely unchanged since they were originally introduced and the proposals are intended to ensure that the amended presumptions reflect properly both changes in the nature of investment markets since the presumptions were introduced and the current practice of the Takeover Panel. The proposed amendments are also intended to provide clarity as to how the concert party principle operates.