EMC has built a nearly $1 billion stake in Anglo American in recent months; did it sense a takeover opportunity? Anglo American rejected a takeover bid from larger rival BHP on Friday, 26 April. Anglo American Statement: "The Board has considered the Proposal with its advisers and concluded that the Proposal significantly undervalues Anglo American…
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U.K. – Takeover Panel Revises Fees and Charges
On 18 April 2024, UK TO Panel updated its fees and charges for its services. UK TO Panel published Instrument 2024/2 which makes minor amendments to the Takeover Code on fees and charges, as well as a notice on the UK PLSA role change. Fees and Charges The Document Charges Section of the Code will…
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Switzerland – GVT Credit Suisse Takeover Dossier
On 15 April 2024 SWI GVT issued thematic dossier on CS takeover by UBS. SWI GVT issued comprehensive dossier documenting the takeover of Credit Suisse (CS) by UBS, including relevant information, documents and comprehensive FAQs. Follows SWI PRL Feb. 2024 updated on inquiry following Credit Suisse crisis. Main Points The dossier includes factsheets on the…
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U.K. – FB M&A Conference 2024 Takeaways
On 9 April 2024, UK FB reported on M&A Conference 2024 and Beyond. UK FB issued main takeaways of its first M&A Conference: 2024 and Beyond. Overview Inaugural M&A Conference welcomed over 125 delegates ranging from advisory, legal and consultancy practitioners to companies, regulators, government representatives. Experienced line-up of keynote speakers and panellists considered the…
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U.S. – Blackwells Capital Announced Takeover Plans
On 10 April 2024, Blackwells Capital told shareholders of Braemar Hotels & Resorts Inc. that it intends to takeover the real estate investment trust. Blackwells' told investors it's takeover is necessary to stop the manager from "milking" the company for all it's worth.
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Romania – ASF AIF Authorization Rules
On 4 April 2024, ROM ASF issued draft rules to amend the AIFs Regulation. ROM ASF issued draft to amend and supplement regulation 7/2020 regarding the authorization and operation of alternative investment funds (AIFs). Follows ROM ASF February 2021 amended rules on authorizing/operating AIFs. Overview Proposals to amend and supplement Regulation 7/2020 on authorization and…
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