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 […]
On 6 December 2021, IND SEBI issued (substantial acquisition of shares and takeovers) (third amendment) regulations, 2021, effective from publication in gazette.
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, […]
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 […]
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.
On 22 September 2021, UK GVT issued correction slip so in article 4(b): …ordinary course of business, course of business, no… should read …ordinary course of business, no… Background On 7 Septemebr 2021, UK GVT issued rules on proposed Chinese takeover of firm. UK GVT issued public interest merger reference (Perpetuus Advanced Materials plc) (pre-emptive […]