On 29 June 2022, NLD GVT issued letter on ABN AMRO and BNP Paribas. Minister of Finance Kaag sent a letter dated 29 June 2022 to Parliament, responding to reports about a possible takeover of ABN AMRO by BNP Paribas. Advises he has submitted a confidential letter to the Standing Committee on Finance, as per […]
On 13 June 2022, UK TO Panel confirmed publication of the revised takeover code. Reflects amendments made by Instruments 2022/1 (limitation on length of service of Panel members), 2022/2 (miscellaneous code amendments), 2022/3 (document charges), and 2022/4 (removal of restriction on anonymous order book dealings). Consequential amendments made to practice statements 19, 20, 24, 28 […]
On 5 May 2022, UK TO Panel issued various amendments to takeover code. UK TO Panel published amendments to the takeover code publication of RS 2021/1, on Miscellaneous Code amendments, RS 2022/1 on Removal of restriction on anonymous order book dealings, as well as Instrument 2022/3, that dealt with Document Charges. Various documents dated 5 […]
On 26 May 2022, The Takeover Panel released PCP 2022/2 for public comment. The consultation paper sets out a number of proposed amendments to the presumptions of the definition of “acting in concert” in the Takeover Code. Comment period is open through 23 September 2022.
On 11 May 2022, UK CMA reported business secretary Kwasi Kwarteng ordered phase 2 probe of Taurus International’s takeover of Perpetuus on national security grounds. Kwarteng has quasi-judicial powers under Enterprise Act 2002 to intervene in certain mergers on public interest grounds; this decision follows the phase 1 process during which CMA investigated the potential […]
On 3 May 2022, Thai SEC revised its takeover rules to simplify the process and increase flexibility in delivering documents to shareholders electronically. The requirement for the offeror to submit a copy of the tender offer and related reports to the Stock Exchange of Thailand has been repealed. Cancellation of the advertisement of the tender […]