'Cadbury law' to be reviewed
Tuesday 23 October 2012
Tougher rules on takeover bids which were introduced last year in the wake of Kraft's controversial acquisition of Cadbury are to be reviewed.
The Takeover Panel will look at whether the new rules, dubbed the Cadbury law, have stifled takeover activity.
Bankers and advisers to companies making bids are particularly unhappy that the 28-day deadline for bidders to "put up or shut up" is too short for them to crawl all over the target company's books.
Around four out of ten of all the bids launched in the last 12 months have had to go to the Takeover Panel for extensions to the bid timetable. These currently include AG Barr's bid for Britvic and Carlyle's potential offer for Chemring.
But the Panel is understood to believe that the "put up or shut up" deadline has been successful in levelling the playing field between bidder and target companies.
- 1 What happens to your body when you give up sugar?
- 2 Drugs Live cannabis trial: Hash is less harmful than any other drug, expert claims
- 3 Turkish Airlines flight TK 726 crash-lands on Nepal runway amid dense fog
- 4 Penis size: Study revealing 'what's normal' sends international media into meltdown
- 5 Have sex with your iPad thanks to the new sex toy no-one asked for
Turkish Airlines flight TK 726 crash-lands on Nepal runway amid dense fog
Ayesha Ali death: Mother and her girlfriend found guilty of manslaughter of eight-year-old
George Clooney and Amal fail to get special treatment at New York restaurant
Cindy Crawford 'un-PhotoShopped' viral Marie Claire image was doctored, claims photographer
'A girl is more responsible for rape than a boy': The statement that shocked the world... except India
Nearly 100,000 of Britain's poorest children go hungry after parents' benefits are cut
Durham Free School: 'Creationism taught at' free school facing closure
Ukip would cut billions from Scottish budget to fund English tax cuts
End of the licence fee: BBC to back radical overhaul of how it is funded
Ukraine crisis: Top Chinese diplomat backs Putin and says West should 'abandon zero-sum mentality'
Boris Nemtsov shot dead: Outspoken Putin critic who had expressed fears for his life is killed near the Kremlin
iJobs Money & Business
£25000 - £30000 per annum + benefits: Ashdown Group: A global leader operating...
Voluntary post, reasonable expenses reimbursed: Reach Volunteering: Would you ...
£36,000 - £40,000: Christine McCleave: Are you looking for a new opportunity a...
£15000 - £18000 per annum: Recruitment Genius: This is a great opportunity for...