Takeovers Panel seeks to prevent bidders from skirting rules through 'side deals'

Wed, 09 Dec 2015

By Tina Morrison Dec. 10 (BusinessDesk) - The Takeovers Panel, which aims to ensure fair and equitable corporate takeovers, wants to prevent co-bidders for a company from skirting requirements under the Takeovers Code. "The panel has been considering the policy of the Code as it relates to multiple offerors in takeover offers for some time," the Wellington-based panel said in its 'Code Word' newsletter. "There have been a number of takeovers where the offerors were current shareholders of the target company and structured the offer vehicl...

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