Panel Seeks Comment on Draft Guidance Note in Relation to Expenses Recoverable By A Target Company

 

13 August 2008

The Takeovers Panel has released a draft Guidance Note on the scope of expenses recoverable by a target company from the bidder under rule 49(2) of the Takeovers Code.

The Panel invites market participants to provide comment on the draft Guidance Note which has been posted on the Panel's website www.takeovers.govt.nz.

The Panel would like to receive all comments from market participants by Friday, 5 September 2008.

After the Panel has considered all comments it intends to publish the finalised Guidance Note on its website and in its newsletter Code Word.