The Code Committee of the Takeover Panel has today issued three consultation papers:
1. Profit forecasts, quantified financial benefits statements, material changes in information and other changes to the Code, PCP2012/1 – amendments to Code provisions.
2. Pension scheme trustee issues, PCP 2012/2 – proposing to extend the provisions of the Code which apply to employee representatives to apply also to the trustees of the offeree company’s pension schemes.
3. Companies subject to the Takeover Code, PCP 2012/3 – proposing to remove the “residency test” for whether the Code applies to an offer.
The consultations close on 28 September 2012.