Business Secretary Greg Clark has welcomed proposals outlined today by the Takeover Panel
, the independent body responsible for issuing and administering the Takeover Code.
DAVE KING'S PS11million battle with the Takeover Panel
spilled into the courtrooms yesterday.
Both sides could yet ask for an extension from the Takeover Panel
- which regulates such deals - if they reached an agreement in principle.
RSA has now asked for the UK Takeover Panel
to extend the deadline until September 22 as they hammer out a formal deal.
M2 EQUITYBITES-May 26, 2015-Mylan clarifies proposal to acquire Perrigo's shares under the Irish Takeover Panel
However, Rio Tinto Zinc rejected the proposal and under the UK's Takeover Panel
regulations (both companies are listed in London), Glencore will now have to wait at least six months before making another approach.
The deadline could only be extended with the consent of Daisy and a specially appointed takeover panel
Virgin Australia won round 1 of its rivalry with flag carrier Qantas after the Takeover Panel
allowed on Tuesday Virgin to pursue its controversial $350 million capital raising scheme that would boost foreign ownership and give the upstart airline more financial power to compete with the financially embattled Qantas.
The Arsenal owner could even be forced to explain himself to the Takeover Panel
if he refuses to speak with worried fans.
Announcing a new Takeover Panel
deadline of November 28, they said substantial progress has been made in their bid to create one of the leading soft drinks companies in Europe.
But yesterday evening, just minutes before a Takeover Panel
deadline for the deal to be struck, the suitors said that discussions were over and they had no plans to make a formal offer.
Those changes have yet to be announced but I have a sinking feeling that Cable is about to "bottle it" on genuine reform and may instead opt for the timid proposals now on offer from the city's Takeover Panel