On 28 September 2023, BHR CB proposed amendments to takeovers and mergers. BHR CB consulted on amendments to takeovers, mergers and acquisitions module. Amendments to section TMA-2.2 Independent Advice and Shareholder Approval of the Takeover, mergers and acquisitions module (Module TMA) under CBB rulebook - vol. 6. Amendments Amendments to paras TMA-2.2.1, TMA-2.2.3; new TMA-2.3A…
Read more
Australia – ASIC Response on Takeovers Consultation
On 28 September 2023, AST ASIC released Report 773 - response to submissions on CP 365 remaking ASIC class orders on takeovers, compulsory acquisitions and relevant interests re consult above; relief embodied in the instruments is same in substance. It is on substantially same terms as sunsetting instruments, with certain exceptions. Exceptions include extending scope…
Read more
Finland – Gvt Issues Consultation on Takeover Amendments
On 8 August 2023, FIN GVT consulted on changes to Securities Markets Act. FIN GVT's presentation to FIN PRL on proposals to amend the Securities Markets Act. Proposal Finnish Securities Market Association requested Ministry of Finance extend regulation on takeover bids in Chapter 11 of Securities Markets Act (SMA (FIN)) to MTFs. In addition there…
Read more
Australia – ASIC Takeovers, Substantial Shareholding
On 27 September 2023, AST GVT registered instruments set out below re the consult above, and an explanatory statement for each; all instruments commence on 28 September 2023. Registered instrument ASIC corporations (changing the responsible entity) instrument 2023/681; ASIC corporations (takeover bids) instrument 2023/683; as well as the ASIC corporations (compulsory acquisitions and buyouts) instrument…
Read more