Showing 48 out of 57 results
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 …
A new tool in distressed public company M&A
Summary Mirabela is the first ASX listed company to be subject to a section 444GA transaction where shares are compulsorily transferred from …
Herbert Smith Freehills 2014 Australian Public M&A Report – M&A on the rise
Summary The Herbert Smith Freehills 2014 Australian Public M&A Report has recently been released. The Report examines the 77 public takeovers and …
Deal making on the rise in the financial services sector
Summary The level of deal making in the financial services sector has been particularly robust during the last financial year. Consolidation, with …
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 …
Break fees update: pushing the 1% guideline and the return of the naked no vote
Summary The traditional position of the Courts and the Takeovers Panel has been that a break fee not exceeding 1% of the target’s equity value is …
Defective disclosure of substantial holdings: parties can’t hide behind the passage of time
Summary The Northern Iron Limited decision reinforces the Panel’s willingness to take a practical approach in identifying the ‘circumstances’ from …
Panel publishes updated position on frustrating action, takeover summaries and dividends
Summary The Panel has scaled back its proposed amendments to its Guidance Note on frustrating action (GN 12), but has nevertheless supplemented the …
Titanic II: sinking slowly - The President's Club judicial review is dismissed
Summary The Takeovers Panel held that Clive Palmer and associates acquired in excess of 40% of The President's Club Limited (TPC) without complying …
Disclosure of indicative approaches – what is current market practice?
Summary The ASX listing rules were amended in 2013 to help boards decide not to disclose a preliminary, indicative and non-binding approach for a …
Experts nervous on independence and process post Billabong
Independent experts have become increasingly nervous on independence and process points since the Australian Securities and Investments Commission …
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