The Takeover Panel

The Panel on Takeovers and Mergers (the “Panel”) is an independent body, established in 1968, whose main functions are to issue and administer the City Code on Takeovers and Mergers (the “Code”) and to supervise and regulate takeovers and other matters to which the Code applies. Its central objective is to ensure fair treatment for all shareholders in takeover bids. See the Takeover Code page of the website for information on whether an offer is subject to the Twelfth Edition of the Code or the Thirteenth Edition of the Code.