On 15 December 2023, SWI GVT informed that the Federal Council adopted the draft act on foreign investment screening thereby fulfilling its mandate from SWI PRL and Rieder motion. Foreign investment screening will take the form of an approval requirement for the takeover of domestic companies, operating in a highly critical sector, by a foreign…
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U. K. – Takeover Panel Issues 14th Edition of Takeover Code
On 11 December 2023, UK Takeover Panel issued 14th edition Code, other updates. UK Takeover Panel issued 14th edition of Takeover Code and amended practice statements. Follows UK Takeover Panel October 2023 issued RS 2023/1 and changes to code. Updated Code Amendments incorporated into Code 14th edition result from consultation PCP 2023/1, entitled Review of…
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Sweden – Nasdaq Nordic Updates Takeover Rules
On 6 December 2023 Nasdaq Nordic updated rules for Stockholm, Growth Market. Takeover rules for Nasdaq Stockholm and Nasdaq First North Growth Market Sweden. Takeover Rules Updated takeover rules for regulated markets and the takeover rules for certain trading platforms, administered by Swedish Stock Market Self-Regulation Committee. The takeover rules for regulated markets and the…
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Switzerland – SWI DP CS/UBS Takeover Data Access
On 29 November 2o23, SWI DP issued mediation decisions on access to takeover data. SWI DP published recommendations following takeover of Credit Suisse (CS) by UBS. Main Points Following the takeover of Credit Suisse by UBS, several applications for access to information were submitted under the Freedom of Information Act that were refused. By invoking…
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Australia – GVT Foreign Acquisition/Takeover
On 11 November 2023, AST GVT registered 32nd compilation of Foreign acquisitions and takeovers act 1975 above, setting out text as amended and in force on 20 October 2023. This compilation reflects an amendment to the meaning of the definition of associate, arising as a result of the creation of a single ASTCA glossary.
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Bahrain – CB Amendments to Takeover and Mergers
On 12 November 2023, BHR CB issued amendments to the TMA module. BHR CB issued letter re amendments to takeovers, mergers and acquisitions module under CBB rulebook volume 6 regarding Independent advice and shareholder approval. Follows BHR CB consultation on takeovers and mergers amendments. Highlights Removed text re obtaining independent advice whether offer is in…
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