On 15 December 2021, AST GVT registered foreign acquisitions act compilation. AST GVT issued 26th compilation of the Foreign acquisitions and takeovers act 1975, registered 15 December 2021, showing text of law as amended, in force on 8 December 2021. Overview An act relating to the foreign acquisition of certain land interests and to the…
Read more
U.K. – TO Panel Takeover Code Revisions
On 2 December 2021, UK TO Panel proposed miscellaneous code amendments. UK TO Panel consulted on amendments to various provisions of the Takeover Code. Consultation Amendments include: requirement for a potential offeror to disclose an obligation to offer a minimum level, or particular form, of consideration; restriction on acquisitions of interests in shares by a…
Read more
India – SEBI Issues Amended Takeover Rule
On 6 December 2021, IND SEBI issued (substantial acquisition of shares and takeovers) (third amendment) regulations, 2021, effective from publication in gazette.
Read more
U.K. – Takeover Panel eDocuments Only
On 2 December 2021, UK TO Panel said documents must be in electronic form. UK TO Panel issued miscellaneous code amendments, stated that with immediate effect, the executive will accept offer documentation in electronic form only. Background Rule 30.5 of the Takeover code currently requires that, when an offeror/offeree firm publishes offer document, scheme circular,…
Read more
U.K. – Investigation of Nvidia’s Takeover of Arm
On 16 November 2021, UK CMA announced the digital secretary asked CMA to carry out further investigation into NVIDIA’s takeover of Arm in a phase 2 investigation. Ordered an in-depth investigation on the grounds of national security and competition. Follows phase one process investigating the merger potential competition implications. UK CMA's phase one report found…
Read more
Slow Third Quarter to Foreign Direct Investment Changes
As expected, it’s been a slow third quarter for changes to foreign direct investment (FDI). Following on from my last update, we’ll start in the AsiaPac region and move westward, read the full article.
Read more