On 27 December 2022, ESP GVT issued Royal Decree - Law (RDL) 20/2022 extending the temporary FDI controls. Purpose Measures to support citizens and companies regarding energy, food, transportation, the gas-intensive industry, economic and financial stability and social protection. Further extension by 2 years of the temporary foreign direct investments (FDI) control procedure which will…
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Finland – FIN CMP Merger / Takeover Notification Threshold
On 29 December 2022, FIN CMP lowered merger / takeover notification threshold from 2023. FIN CMP lowered notification threshold for mergers and acquisitions from 1 January 2023. Means harmful market concentration can be prevented more effectively than before. Follows FIN CMP November 2022 consulted on draft acquisitions /takeovers guidelines. Overview The changed law aims to…
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S Korea – FSC Shareholder Takeover Rights
On 21 December 2022, SK FSC protected investor rights in M&A share transfers. SK FSC held seminar on measures to protect general investors in case of change in management rights by stock transfer; introduced mandatory tender offer system. This system obligates a company to acquire a certain percentage of stocks through a tender offer when…
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U.K. Takeover Panel Response Acting in Concert Paper
On 14 December 2022, UK Takeover Panel code committee published its response statement RS 2022/2 and individual responses received to PCP 2022/2, and instrument 2022/6. Amendments included, among other things, a new version of section 6 Offer by a consortium offeror; s. 7. Investors in limited partnerships and other investment funds. Section 8 Pension schemes,…
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Germany – Courts Takeover, Shareholder Rights
On 13 December 2022, GE Courts ruled on Deutsche Bank takeover of Postbank. GE Courts Federal Court ruled again on takeover of Postbank by Deutsche bank. The plaintiffs in both cases held shares in Deutsche Postbank AG (Postbank). Case re takeover bid pursuant to S29(1) Securities Acquisition, Takeover Act (WpÜG). Federal Court of Justice Second…
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Australia – GVT Updates Foreign Acquisition / Takeover Fees
On 8 December 2022, AST GVT registered the Foreign acquisitions and takeovers fees imposition act 2015 in consolidated format, showing text as in force on 6 December 2022. Latest compilation (no 5) issued to reflect changes made by the Foreign acquisitions and takeovers fees imposition amendment act 2022, which was on registered 6 December 2022.…
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