Takeovers Panel Reports on Achieving Its Objectives Despite Quiet Year for Transactions
The 2014 Annual Report of the Takeovers Panel has just been published, having been tabled in Parliament.
The Panel reports on a year of variable corporate activity, with the transactions that required monitoring tending to
come in clusters. This provided opportunities for the Panel to switch to a public education focus whenever its
monitoring role allowed.
The Panel monitored 17 transactions regulated by the Takeovers Code, including the high-profile takeover ofSynlait Farms
Limited. This compares with 21 Code-regulated transactions over the 2013 year.
David Jones, Chairman of the Takeovers Panel, said today: "Although the year saw growth in the pipeline of new Code
companies, through listings and crowd funding, the takeovers market itself had only occasional busy periods of activity.
The Panel was able to focus resources on its public education services by developing publications for shareholders and
directors."
The Panel's Chief Executive, Margaret Bearsley, pointed out the very positive feedback the Panel has received over the
year from its stakeholders. All of the respondents to the Panel's client satisfaction survey said they were satisfied
overall with the Panel's processes and with its professionalism. "The Panel is grateful to the stakeholders who take the
time to provide feedback. They have told us we are doing a good job, and we will do our best to maintain that level of
performance," Ms Bearsley said.
ends