On 17 November 2021, BHR CB proposed to amend take-overs, mergers module. BHR CB proposed amendments to take-overs, mergers and acquisitions (TMA) module. Revised provisions relate to independent advice, issuance of documents, settlement of consideration and share transfer, restrictions on dealings before and during offer. As well as offer timetable, compulsory acquisitions and delisting, among…

On 13 August 2021, IND SEBI issued SEBI (substantial acquisition of shares and takeovers) (second amendment) regulations, 2021, effective from 1 April 2022.

On 6 August 2021, IND SEBI board said it has decided to do away with certain disclosure obligations for the acquirers/promoters pertaining to acquisition or disposal. This is acquisition or disposal of shares aggregating to 5% and change of 2% after, annual shareholding disclosures and creation/invocation/release of encumbrance registered in depository systems under takeover regulations…

On 17 June 2021, the Enforcement Committee fined Consellior SAS €80,000 for filing late reporting of its disposals of Baccarat shares and for a late declaration of a change in intention regarding the tender of its shares to the ongoing bid. Baccarat was the target of a public takeover bid at the time. Consellior SAS…

On 10 May 2021, SLV ATVP issued rules on takeover prospectus content. SLV ATVP announced publication of decision on the documents attached to application for issue of a takeover bid license and on the more detailed content of the prospectus. Summary The updated legislation updates the previous 2007 legislation of the same name and relates…

On 6 May 2021, AST FIRB updated its website to reflect new reforms. Updated website reflects reforms to Foreign Acquisitions and Takeovers Act 1975. Follows AST GVT June 2020 reform on foreign investment framework. Key Changes Website redesigned to make it easier for investors and other stakeholders to navigate. New menus with information regarding national…