NEWS: WMC hired to fight EC takeover directive

The Takeover Panel, the body set up to regulate City take-overs, has hired WMC Communications to campaign against legislation proposed by the European Commission.

The Takeover Panel, the body set up to regulate City take-overs, has

hired WMC Communications to campaign against legislation proposed by the

European Commission.



Strategic communications consultancy WMC, founded last year by Tracey

Camilleri and former Hill and Knowlton European president David Wynne-

Morgan, will carry out a lobbying and awareness programme in an attempt

to scupper a proposed EC directive on company takeover law.



There are currently twice as many takeovers in the UK as in the rest of

Europe combined and the Takeover Panel believes that any statutory

legislation imposed by the European Commission could reduce this

activity.



‘There’s a request in the directive for adequate compensation and the

European Court could take as long as two years to sort out such cases,’

said Camilleri.



‘The directive is due to be debated in the European Parliament in

September, our aim is to see it shelved.’



Robert Elphick, recently hired as a consultant by WMC, will work on the

project. A former spokesman for two European Commissions, he was, until

last year, the spokesman and deputy head of the EC in London.



If the proposed directive were to come into force as it stands it could

affect the way financial PR is carried out during takeover bids.



The Takeover Panel has regulated over 6,000 take-over bids in the UK.



Have you registered with us yet?

Register now to enjoy more articles and free email bulletins

Register
Already registered?
Sign in

Would you like to post a comment?

Please Sign in or register.