Mar 14, 2017
Unilever chief calls for tougher takeover safeguards
Paul Polman said that companies should have more time to defend themselves in the event of an approach. He told the Financial Times that there needed to be a "Level playing field". Under the UK Takeover Code, a company has 28 days to prepare a defence before a business returns with a firm offer. The so-called "Put up or shut up rule" was introduced by the Takeover Panel, the body which polices mergers and acquisitions, in 2011. The business secretary Greg Clark recently said that he would soon publish draft proposals on dealing with controversial takeover offers.
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