| Commentary

205 Role of financial advisers

| Commentary

205 Role of financial advisers

The Panel on Takeovers and Mergers (Panel) regards financial advisers as being responsible to the Panel for guiding their clients and any relevant public relations advisers with regard to any information published during the course of an offer. Advisers must ensure at an early stage that directors and officials of companies are warned that they must consider carefully the City Code on Takeovers and Mergers implications of what they say, particularly when giving interviews to, or taking part in discussions with, the media. It is very difficult after publication to alter an impression given or

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