Highlights: A review of the Swedish Takeover Rules has resulted in a proposal to amend and update the Rules in a number of respects including, deal protection, top ups, and the put up or shut up regime. The revision has also resulted in the codification of a number of Securities Council statements including disclosure of … Continued
Executive summary: The following article Trends in Merger Control analyses the principles and trends enunciated by the Competition Commission of India (“CCI”) in the merger control orders passed to date. Introduction: Legal Framework The merger control regime in India is governed by the provisions of the Competition Act, 2002 (“Act”) along with the Competition Commission … Continued
Highlights: Changes have been proposed to the Competition Commission of Singapore’s Guidelines on Merger Procedures. The changes give parties greater guidance on the self-assessment of mergers, obtaining a confidential opinion, and the treatment of confidential information. MAIN ARTICLE On 20 February 2012, the Competition Commission of Singapore (“CCS”) issued a consultation paper (“Consultation Paper”) proposing … Continued
Highlights: This article looks at the legal processes involved in amalgamating (merging) two public joint stock companies listed on either of the main stock exchanges in the UAE. The Companies Law provides that an amalgamation can be implemented either by an “acquisition” or by a “merger”. One of the two main stock exchanges, the ADX, … Continued
Executive summary: The attached memorandum provides an overview of the process for making legislation in the European Union which, once made, will either apply directly to the UK or which the UK government is required to transpose into UK domestic law. Click here to read the Memorandum
Highlights: The new Foreign Investment Industrial Guidance Catalogue encourages foreign investment in more areas by removing several restrictions and adding several encouraged industries. Caps on foreign equity are lifted in some industries. The New Catalogue promotes investment in energy-saving, environmental protection, new-generation information technology, biology, high-end equipment manufacturing, new energy, new materials, and new energy … Continued
Highlights: M&A activity in Ireland has been affected by global and national economic difficulties experienced over the past three years, but Ireland’s M&A activity has recovered from the historic lows experienced in 2009. This recovery looks set to gather pace in 2012. Much of Ireland’s M&A activity during 2011 was driven by the restructuring of … Continued
Highlights For the first time, the Italian Stock Exchange Commission applied a law of 2007 that enables it to order the launch of a tender offer, or impose a fine, for breach or circumvention of the mandatory tender offer rules. Previously the sanctions, which proved ineffective, consisted of a fine, the freezing of voting rights, … Continued
Highlights: The Netherlands has become an attractive venue for settling international mass claims, irrespective of whether any litigation has taken place in the Netherlands. The Netherlands is the only European jurisdiction offering a procedure to declare a collective settlement binding on all class members on an “opt out” basis. Recently, the Amsterdam Court of Appeal … Continued
Highlights: Businesses operating in Canada should be aware of a recent trend towards greater regulation and enforcement action surrounding pricing representations where additional costs are not clearly disclosed up front. The federal government’s planned regulation of airline advertising, the Competition Bureau’s recent aggressive enforcement initiatives regarding price representations as well recent class actions involving pricing … Continued
