Politics

Government backs tighter rules on takeover of UK companies

Takeover Panel says bidders should say what will happen to head office and R&D in wake of row over Kraft’s Unilever bid

Bidders for UK stock market listed companies must lay out more detailed plans for their target, including location of its head office and research and development investment, under proposed rules put forward by the takeover watchdog and backed by the government.

The new rules, which were published in a consultation document on Tuesday, also give companies, unions and other employee representatives more time to respond to bids in changes which follow the controversial £115bn attempted takeover of Unilever by Kraft Heinz earlier this year.

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