Changes in UK Takeover Code come into force

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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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