On 4 April 2019, the Takeover Panel published amendments to the
Takeover Code that will take effect on exit day (i.e., currently 31
October 2019).
Once the U.K. leaves the EU the Takeovers Directive will cease
to apply in the U.K. The changes are, in the main, minor and
technical in nature and are being made to ensure that the
U.K.'s domestic takeover regime continues to operate
effectively once the Takeovers Directive no longer applies.
The amendments include:
- removal of all references to the
Takeover Directive, EEA companies and EEA supervisory authorities
and replacing them (where necessary) with references that will work
once the U.K. has left the EU;
- amendments to certain definitions
(e.g., regulated market); and
