The Takeover Panel

Question 1

Briefly explain what the Takeover Panel is

Answer 1

1. Main organisation relevant to takeover in the UK.
2. Responsible for operating and enforcing the City Code on Takeovers and Mergers (the city code)
3. It ensures that takeovers are fair, transparent, and follow the rules, protecting both shareholders and companies.
4. It enforces the Takeover Code, which sets guidelines for how takeovers should be conducted.

Question 2

Briefly explain how the Takeover Panel is financed

Answer 2

The UK Takeover Panel is financed by the companies involved in mergers and takeovers:

1. Document Fees – Companies pay when they submit takeover-related documents.
2. Transaction Fees – A charge based on the value of large takeover deals.
3. Levy on Share Deals – A small fee on certain share transactions.

This way, the panel runs without needing government funding.