Code Committee opts for status quo

The Code Committee has now completed a review of the operation of its amendments to the Takeover Code in the year following those changes taking effect, and has concluded that no further changes are necessary at present.

This follows the implementation of a number of changes to the Takeover Code in September 2011 designed to restore the tactical balance in favour of the target. In the wake of the February 2010 takeover of Cadbury by Kraft Foods, there were concerns that it was too easy for hostile bidders to gain control of UK companies.