What does "PTM" stand for in relation to UK takeover regulations?

In the context of UK takeover regulations, "PTM" stands for the Takeover and Mergers Panel. The Takeover Panel is a regulatory body that administers the City Code on Takeovers and Mergers, which governs the conduct of takeover bids and mergers involving publicly listed companies in the UK. Its role is to ensure that shareholders are treated fairly and that markets remain efficient and transparent during takeover activities. The Panel's functions include providing guidance, offering rulings, and taking enforcement actions when necessary to uphold the standards set out in the Code. This helps maintain integrity in financial markets, ensuring that all parties are aware of their responsibilities and rights during the takeover process.