On 13 July 2021, CSE issued notice on takeover disclosure requirements. CSE issued guidance, expectations on disclosing certain acquisitions by listed issuers. Exchange reviewed acquisitions of private companies by listed issuers that do not seem to meet fundamental changes criteria, yet significant number of listed securities. Cited CSE Policy 6 distributions, for acquisitions involving issuance…
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France – CMP Aema Group Takeover of Aviva
On 12 July 2021, FR CMP approved Aéma Group's takeover of Aviva France. FR AMF gave the Aéma Group (Macif) the green light for the takeover of Aviva France. Background The Aéma Group and Aviva France are two French operators in the insurance sector. Particularly active in the non-life, personal, savings and asset management markets.…
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Sweden – Nasdaq Nordic Fine Takeover Breach
On 8 July 2021, Nasdaq Nordic reported on discipline re takeover disclosure. Nasdaq Nordic (Stockholm) has fined Amasten Fastighets for breaching takeover rules. Overview Amasten Fastighets has been ordered to pay a SEK 1,000,000 fine regarding disclosure of a public takeover offer to shareholders in SSM Holding AB on 14 October 2020. Nasdaq Stockholm disciplinary…
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U.K. – Takeover Panel Publishes 13th Edition of Takeover Code
On 5 July 2021, UK TO Panel published the thirteenth edition of the Takeover Code. New version published on the Panel’s website; copies have been sent to subscribers.
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France – CMP Takeover of La Halle Stores
On 20 May 2021, FR CMP gave green light for stores takeover by Chaussea. FR CMP gave green light for the takeover of 128 La Halle brand stores by Chaussea. Clearance Subject to Conditions 17 June 2020, Chaussea notified FR CMP of plan to acquire 128 La Halle brand stores. The acquisition is being made…
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Portugal – CMVM Rasografica Takeover Bid
On 14 May 2021, POR CMVM issued derogation from duty to launch bid. POR CMVM announced it granted derogation from duty to launch public offer for the acquisition of Rasográfica of shares of Lisgráfica SA under art 187.1 Securities Code. Overview On 13 May 2021 Board decided this per provisions of art 189 number 2…
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