• HK SFC proposed amendments to the Codes on takeovers and mergers and share buy-backs; aims to codify existing practices of Takeovers executive, clarify re the codes.

Consultation

• Covers topics such as shareholder voting and definition of close relatives, the chain principle, efficiency improvements, and clarification of statements during offers.
• Also procedural matters in partial offers, green initiatives, miscellaneous amendments.

Effectiveness

• The Takeover consultation is open until 23 June 2023