On 10 May 2019, CVM proposed changes to rules on takeover bids. Consultation on amendments to CVM Instruction 361 on tender offer procedures. Key Changes The instruction relates to tender offers for publicly held company shares (OPA). Changes limited in scope, seek to take into account experience in actual cases. Re submission of OPA by increasing…
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Hong Kong – SFC Takeovers Table Updated
On 8 May 2019, the name of an offeror has been added to Ascent International Holdings Limited (Stock Code: 264).
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Hong Kong – SFC Takeovers Table Updated
From 3 May 2019, a new offer period has commenced for China Automation Group Limited (Stock Code: 569).
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U.S. – SEC M&A, Takeover Disclosure
On 3 May 2019 SEC proposed simpler disclosure of business acquisition. SEC voted to propose rule amendments to improve information given investors, regarding acquisition, disposition of businesses, including real estate operations. Objectives Amendments aim to facilitate timely access to capital and lower compliance cost. Proposed amendments changing financial disclosure requirements in Rules 3-05, 3-14, and…
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U. K. – CMA Paypal/iZettle Takeover
On Apr. 30, UK CMA provisionally cleared Paypal/iZettle takeover. Follows Nov. 26, 2018 CMA concerns over takeover Paypal/iZettle. In phase 2 probe the CMA has provisionally cleared Paypal's completed takeover. Background Both companies provide mobile point of sale (mPOS) devices enabling businesses to take offline payments through a card reader connected to a smartphone/tablet. Both…
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Hong Kong – SFC Takeovers Table Updated
On 29 April 2019, the offer period for Yugang International Limited (Stock Code: 613) closed.
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