ABSTRACT
Chapter 1 starts with the history of the Directive, discussing the objectives and aims of the Directive through the regulatory framework prevailing in Britain and the framework put in place to implement the Directive. The chapter examines takeover rules under the City Code, and relates the rules to provisions in the Directive, as implemented by the Companies Act 2006. The chapter concludes by looking at any likely impact of the Directive on the culture of takeover regulation after the transition from self-regulation to statutory regulation, taking into account the fact that the same regulator and the same rules apply after the transition.
