Takeovers: Disclosure of Information
(asked on 18th November 2024) - View Source
Question to the Department for Business and Trade:
To ask His Majesty's Government whether they plan to review the duties of public company directors about informing shareholders when they receive a serious takeover approach.
This question was answered on 2nd December 2024
The Government has no plans to review the duties of public company directors in relation to informing shareholders of a takeover approach. Directors owe a number of fiduciary duties to shareholders, including the need to exercise reasonable care, skill and diligence, and to promote the success of the company for the benefit of its shareholders as a whole.