The Takeovers Panel and Takeovers Regulation in Australia

Abstract

This book, edited by Ian Ramsay, is the first detailed analysis of the Australian Takeovers Panel. The Takeovers Panel is the primary forum for resolving disputes about a takeover bid. The Panel has played an important role in a number of very high profile takeovers, including the 2007 attempted takeover of Qantas.

It is now almost 20 years since the Takeovers Panel became part of the framework of takeovers regulation in Australia. Although the first 10 years of the Panel are regarded as unsuccessful (only four matters were considered by the Panel), since 2000, the Panel has considered more than 300 matters. It is regarded as having made a very important contribution to the effective regulation of takeovers in Australia. The book considers the functions and powers of the Panel, explores why it was established, provides an assessment of the work of the Panel, examines key issues dealt with by the Panel, and discusses possible reforms that would make the Panel even more effective. The authors of the book include leading takeovers practitioners.

The chapters in the book are:

1. The Takeovers Panel: A Review - Ian Ramsay 2. An Overview of the Role, Functions and Powers of the Takeovers Panel - Michael Hoyle 3. Why was the Takeovers Panel Established? Bruce Dyer and Marie McDonald 4. An Assessment of the Work of the Takeovers Panel During the Past Decade - Emin Altiparmak, Jemima O’Callaghan, Jerome Santamaria and Jon Webster 5. Key Issues Dealt With by the Takeovers Panel – Lock-up Devices, Disclosure and Rights Issues - Alison Lansley and Kate Johnson 6. Judicial Review of Takeovers Panel Decisions - Emma Armson 7. The Takeovers Panel of the Future – Proposals to Enhance the Effectiveness and the Role of the Panel - Rodd Levy and Neil Pathak