Thailand – SEC Proposed Amendments to Takeover Rules

On 11 May 2026, Thai SEC proposed second round of amendments to takeover rules. Further gaps and ambiguities were identified during a review, prompting additional proposed clarifications approved in-principle by the Capital Market Supervisory Board. Thai SEC proposes requiring a formal declaration (form 247-3) when a conditional public announcement of a takeover is made, to […]

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Austria – MoJ ESAP Justice Act Re: Takeover Act

On 4 May 2026, AUT MoJ updated on federal act to implement EU law. AUT MoJ updated on bill to amend Commercial Code, Stock Corporation Act, Takeover Act (ESAP Justice Act or ESAP-JuG), issued explanatory notes and comparison texts. Follows December 2023 EU CNCL ESAP Reg 2023/2859 and Dir 2023/2864. Overview Draft ESAP-JuG, now under […]

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Germany – BaFin Inappropriate Advertising Prohibition

On 24 April 2026, GE BaFin ordered UniCredit to cease its takeover adverts. GE BaFin had ordered UniCredit SpA to refrain from its inappropriate advertising in connection with the takeover process of Commerzbank AG, containing sensationalist and inaccurate statements about the current financial situation of Commerzbank AG. Order Summary With the order, GE BaFin exercised […]

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Hong Kong – SFC Updated Takeover Table

On 27 April 2026, the SFC updated the Takeover Table with the following: new offer period has commenced for Rimbaco Group Global Limited (stock code: 01953) from 24 April 2026.

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Hong Kong – SFC Updates Takeover Table

On 20 April 2026, the SFC updated the Takeover Table with the following: offer period for ETS Group Limited (stock code: 08031) closed on 20 March 2026; offer period for Man Shun Group (Holdings) Limited (stock code: 01746) closed on 2 March 2026; offer period for Thelloy Development Group Limited (stock code: 01546) closed on 10 April […]

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France – AMF Insider Trading Decisions Re: Takeover

On 13 April 2026, FR AMF welcomed first criminal decisions in insider trading case. FR AMF welcomed Paris criminal court’s conviction of three individuals for insider dealing and complicity, in a landmark case involving insider trading networks. These are the first criminal penalties specifically targeting insider trading networks, which the AMF identifies as a growing […]

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