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