Since the takeover of Cadbury Plc in 2010, there has been increased academic attention on investor short-termism during takeovers and whether the continued imposition of the board neutrality rule has made it easy to acquire UK companies. This paper contributes to this growing body of research by...

Purpose – The purpose of this paper is to determine whether the Board Neutrality Rule and the primacy afforded to shareholders during takeovers is justified under common law and policy.Design/Methodology/Approach – The paper provides a detailed assessment of the role play by the board...