On 13 December 2022, GE Courts ruled on Deutsche Bank takeover of Postbank. GE Courts Federal Court ruled again on takeover of Postbank by Deutsche bank. The plaintiffs in both cases held shares in Deutsche Postbank AG (Postbank). Case re takeover bid pursuant to S29(1) Securities Acquisition, Takeover Act (WpÜG). Federal Court of Justice Second…
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Australia – GVT Updates Foreign Acquisition / Takeover Fees
On 8 December 2022, AST GVT registered the Foreign acquisitions and takeovers fees imposition act 2015 in consolidated format, showing text as in force on 6 December 2022. Latest compilation (no 5) issued to reflect changes made by the Foreign acquisitions and takeovers fees imposition amendment act 2022, which was on registered 6 December 2022.…
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Australia – ASIC Takeovers, Relevant Interests
On 30 November 2022 AST ASIC proposed class orders remake i.e. re takeovers. AST ASIC released Consultation paper 365 remaking ASIC class orders on takeovers, compulsory acquisitions and relevant interests; seeks feedback regarding the same. 9 class orders will expire (sunset) if not remade; does not propose significant changes. AST ASIC said that it proposes…
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30 November 2022 – India SEBI Fines for Failure to Disclose Substantial Shareholding and Takeover Breach
30 November 2022 - India Sebi Fines Fines for Failure to Disclose Substantial Shareholding and Takeover Breach
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Japan – METI Fair Acquisition / Takeover Study
On 18 November 2022, JPN METI launched a study group on fair acquisitions. JPN METI set up a study group on ideal approach to fair acquisitions / takeovers, held meeting. Aim to consider matters incl. conduct/stance of relevant parties in relation to takeover proposals and ideal takeover defense measures, to develop a fair M&A market.…
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Philippines – EXC Listing, Disclosure, Takeovers
On 16 November 2022, PHI EXC consulted on listing, disclosure, trading rules. PHI EXC issued a consultation paper titled proposed amendments to the consolidated listing and disclosure rules and revised trading rules (2022 amendments - part II). Consultation paper proposes numerous changes to consolidated listing and disclosure rules (consolidated rules); also proposes an amendment to…
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