One of the curious things about the list of suggested reforms to UK takeover rules is that few would have had any bearing on the outcome of the event that triggered the debate in the first place – US food group Kraft’s takeover of rival Cadbury.

Increasing the threshold for control from 50% to 67%, would have had no bearing on the Cadbury deal initially rejected by the board and eventually approved by the more than 90% required to enforce a squeeze-out; lowering disclosure levels, making advisory fees public and forcing acquirers to lay out their financing plans in greater depth would similarly not have prevented the iconic UK chocolate-maker from falling into American hands.