R (Datafin Plc) V Panel For Takeovers and Mergers - Facts

Facts

The Panel on Takeovers and Mergers is the City of London's self-regulating mechanism for dealing with mergers and acquisitions. The applicants complained about the conduct of their competitors in a take-over bid and were unhappy with the panel's decision. When they were refused leave to seek judicial review by the High Court, they appealed to the Court of Appeal.

The main issue facing the Court was whether to review the decision of a Panel set up under private law using the standards usually applied in administrative law.

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