Sch 1C para 11
(1) Rules must ensure that a decision to make a takeover bid must be made public without delay and the Panel must be informed of the bid. (2) Rules may require that the Panel is informed before such a decision is made public. (3) Rules must ensure that, as soon as the takeover bid has been made public, the boards of directors of the offeree company and of the offeror must inform— (a) the representatives of their respective employees, or (b) where there are no such representatives, the employees themselves.