A takeover is an acquisition, where a buyer buys a company outright or a controlling share in it. Takeovers are mounted by individuals, other companies, governments (including nationalisations), as well as financial investors like venture capital companies and private equity firms. Takeovers are subject to very stringent regulations to ensure shareholders and other stakeholders are treated fairly and equally. In the UK, takeovers are overseen by the Panel on Takeovers and Mergers, an independent body that ensures that the City Code on Takeovers and Mergers is applied. The panel also supervises and regulates the takeover process.