Lamport Bassitt Solicitors - Legal News - Cable: New rules on takeovers are welcome


	LATEST LATEST LEGAL NEWS ARCHIVE		LATEST NEWS & EVENTS Cable: New rules on takeovers are welcome The need for new rules on takeovers has been outlined by the business secretary. Vince Cable said that such deals need to be done transparently and with regard to shareholders' long-term interests, rather than short-term effects. Additionally, he called for directors to consider "their wider long-term legal duties". Mr Cable was commenting after the start of a consultation by the Takeover Panel regarding regulation. He acknowledged the importance of open markets and the role that foreign investment has to play in improving economic growth within the UK. Mr Cable said that the moves were not about "economic nationalism" but stressed the need for shareholders to be given proper consideration in takeovers. The Takeover Panel has set a deadline of July 27th for comments on its consultation. Among the areas it is reviewing is the regulation of bids. Future reviews could take place, depending on the results of the initial analysis. Posted by James Walsh Related Articles: 22/9/2011 - Manufacturers targeting strategic acquisitions to drive growth 21/9/2011 - Mergers and acquisitions rule changes take effect 14/9/2011 - Govt wants to make London a 'legal hub' for the world 12/9/2011 - ICB banking reforms: banks set to be given until 2019 to prepare 8/9/2011 - Banking reforms in danger of being 'watered down' More Corporate Law News