Showing 24 out of 33 results
How final is a ‘best and final’ takeover offer?
Amidst the highly regulated and prescriptive takeovers regime in Australia, it is not clear how long – if at all – a bidder must remain on the sidelines …
South African mining industry blindsided by Mining Charter III
Much controversy has surrounded the Reviewed Broad-Based Black Economic Empowerment Charter for the South African Mining Industry (“Mining Charter III”). …
Contingent payments in takeovers: OSH and Exxon Mobil’s proposals for IOC
Summary Often a target company asset may have a value that depends on future events. That may make it hard to agree on acquisition terms. The rival …
Takeovers law reform – some proposals
Summary Takeover bids are essential to the operation of Australia’s economy and capital markets. The takeover rules could be reformed in certain ways …
Franking credits in takeovers
Summary Despite frequent comment in the media to the contrary, franking credits may be valuable to foreign acquirers. This means that assertions that …
Frustrating action not unacceptable
Summary The Mungana Goldmines takeover bid provides some practical guidance on the steps that target boards can take to minimise the risk that an …
Top 10 Australian M&A predictions for 2015
Our annual top 10 M&A predictions for the coming year are set out below. We also look back at how accurate our predictions for 2014 were as well.1. …
ASIC set to axe restrictions on special crossings during takeovers and schemes
In brief The takeovers rules in the Corporations Act impose some restrictions on trading by a bidder (or its associates) during a takeover bid, but …
Takeovers Law reforms – interesting proposals in Canada
In brief Proposed changes to Canadian takeover laws seek to strengthen the position of the minority and give target boards additional time to respond …
Joint bids – ASIC’s new policy in practice
Summary Joint bids that result in the parties having initial combined voting power in the target company of more than 20% require ASIC relief. …
Australian joint ventures – are EU and Chinese anti-trust approvals required? Peut-être / yěxǔ (perhaps)
Summary The EU and Chinese merger control regimes can apply to a broad range of corporate transactions involving either an Australian joint venture or …
Everyone’s a winner: David Jones’ Scheme is approved
Summary Collateral benefits are not illegal in schemes of arrangement as they are in takeover bids. Schemes can accommodate different treatment of …
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