On 16 May 2025, PHI DEP announced that depositors of the closed Rural Bank of San Juan (Southern Leyte) have until 29 May 2025 to file their deposit insurance claims. Under the PHI DEP charter, depositors are given two years from the bank's takeover (on 29 May 2023 as detailed above) to file deposit insurance…
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U.K. – CMA Aviva, Direct Line Takeover Probe
On 14 May 2025, UK CMA launched inquiry Aviva purchase of Direct Line. UK CMA is investigating the anticipated takeover by Aviva plc of Direct Line Insurance Group plc, to assess whether it may be the case the transaction will result in creation of a relevant merger situation under Enterprise Act 2002 merger provisions. Takeover…
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U.K. – CIFAS Unauthorized SIM Swaps Re: Takeovers
On 7 May 2025, UK CIFAS issued Fraudscape report, noting SIM swap fraud. UK CIFAS warned of 1,055% surge in unauthorized SIM swaps due to rising fraud. Warning comes as part of the organization’s annual Fraudscape report, which paints a grim picture of escalating threats across the mobile and telecoms sectors. Summary Nearly 3,000 cases…
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Hong Kong – SFC Updates Takeover Table
On 7 May 2025, the SFC updated the Takeover Table new offer period commenced for UJU Holding Limited (stock code: 1948) from 7 May 2025. offer period for Vesync Co., Ltd (Stock Code: 2148) closed on 6 May 2025.
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Ireland – GVT Firm Shareholder Takeover Rules
On May 2, IRE GVT updated superior courts' takeover rules for companies. IRE GVT issued the Rules of the Superior Courts (Companies Act 2014 Section 459) 2025 (StIn 150/2025), adding sub-rules (6)-(8) of rule 18 of Order 75 of the Act. Inserting immediately following rule 91 of Order 77 XII. Lodgment under section 459 of…
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Singapore – SIC Issues Proposed Changes to Takeover Code
On 5 May 2025, the Securities Industry Council of Singapore released a consultation proposing changes to the Takeover Code. additional disclosure requirements apply to dealings by certain persons, including 'associates' (as defined in the Singapore Code on Takeovers and Mergers) the term associates normally includes a holder of 5% or more of the equity share…
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