Changes in UK Takeover Code come into force

On 30 September, key changes to the Takeover Code come into effect. These include revised rules concerning information disclosure, profit forecasts, and quantified financial benefits statements (QFBSs); and also an extension to the jurisdiction of the panel.

Commenting on the changes, Hogan Lovells’ corporate partner, Richard Ufland, said: ‘The revised rules adopt a more proportionate set of provisions than at present, and provide a more logical framework for the regulation of profit forecasts and QFBSs. In addition, the changes introduce a sensible amendment to the scope of the jurisdiction of the panel…

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