The Takeovers Panel has published two updated guidance notes on its website.

The Guidance Note on Target Company Statements has been prepared to assist market participants to understand the Panel's approach to the Code’s requirements for target company statements.

The Guidance Note on Independent Advisers and the Takeovers Code will assist those who are approved as independent advisers by the Panel to prepare a report under any of rules 18, 21, 22, or 57 of the Takeovers Code or under a class exemption or individual exemption granted by the Panel from the Code.