Metlifecare, Abano debacles may lead to Takeovers Code changes

Takeovers Panel chief executive Andrew Hudson said changes address issues arising from takeovers. (Image supplied)

Thu, 01 Jul 2021

The Takeovers Panel has begun consulting on changes to the Takeovers Code and related legislation, including whether bidders should disclose more information about how they plan to fund an offer.The panel is suggesting bidders should have to provide more details of, and certainty about, their funding arrangements, particularly when private equity firms are involved.Currently, all that is required of bidders is to state they have funding.The proposed change appears to have been inspired by the two examples last year of private equity funded bids...

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