Overview

The UK Takeover Panel has now published the final changes to be made to the Takeover Code to extend the regime requiring the disclosure of interests in securities.
Persons subject to the regime will have to make opening position disclosures and the whole regime is to be extended to provide for extended composite disclosure. Significantly,the regime will require disclosure of positions even if no trades are made during the offer period.
We take a closer look at the major talking points arising from the new legislation.