Regulatory Alerts2021-12-28
Summary of Key Amendments to the Revised Rules on Take-overs, Mergers and Compulsory Acquisitions
The Securities Commission Malaysia issued amendments to the Rules on Take-overs, Mergers and Compulsory Acquisitions to clarify compliance responsibilities, mandatory offer obligations, and procedural requirements. The revisions impose stricter conduct rules on whitewash transactions, mandate SC consultation for specific exemptions, and require enhanced disclosures regarding financial resources and joint offeror arrangements. Additionally, the updates streamline document submission processes, refine the computation of acceptance levels, and introduce new safeguards for minority shareholders and scheme of arrangement approvals.
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