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LATEST NEWS & EVENTS Mergers and acquisitions rule changes take effect  Rule changes for businesses using a mergers and acquisitions solicitor service have taken effect this week. As a result, target companies will have to name their potential acquirers as soon as they are approached, who will then have just 28 days to make an offer. The changes, announced by the Panel on Takeover and Mergers, come after the backlash that followed the takeover of Cadbury by Kraft and are aimed at giving the boards of target companies more control. In addition, break fees, which penalise any party that walks away from a deal, will be banned. Mark Preston, head of UK advisory at RBC Capital Markets, told Reuters: "The new rules will put an end to half a decade of bad habits and abuses in negotiating tactics." "The hope is it will restore the soundness and confidentiality that should prevail in business negotiations between responsible adults." On Monday (September 19th), the first day of the new legislation, bookmaker Sportingbet was among several companies that was forced to inform bidders of the automatic 28-day deadline. Posted by Alex McLean 
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