UK Takeovers and Mergers

Introduction to the Takeover Panel and the Code

Established in 1968, the Panel on Takeovers and Mergers (Panel) is the regulatory body which administers the City Code on Takeover and Mergers (Code). The Code is the set of rules which governs takeovers and attempted takeovers of all public companies and certain private companies in the UK.

A more detailed overview of the Panel and the Code can be accessed here.

Indicative timetables can be accessed below:

More information about the Panel can be found at

City Code Index

For over 10 years our Index to the City Code (Code Index) has proved to be a popular aid to takeover practitioners. Our Code Index, which is available in hard copy, is currently being reviewed in light of recent Code changes.

Panel Statements, Consultation Papers and Response Statements

Panel Statements, Consultation Papers and Response Statements can be accessed here, together with our summaries and commentary of these papers and statements.

Practice Statements

Panel Practice Statements can be accessed here.

This document (and any information accessed through links in this document) is provided for information purposes only and does not constitute legal advice. Professional legal advice should be obtained before taking or refraining from any action as a result of the contents of this document.