Regulatory Alerts2017-12-06
Rules on Take-overs, Mergers and Compulsory Acquisitions
The Securities Commission Malaysia issued these rules to regulate take-over offers, mergers, and compulsory acquisitions involving listed corporations, unlisted public companies, business trusts, and real estate investment trusts. The framework mandates compulsory offers when an acquirer obtains control or triggers the creeping threshold, while establishing strict procedural, disclosure, and timing requirements for both mandatory and voluntary offers. It further imposes fiduciary duties on offeree directors, restricts share dealings during the offer period, and outlines minority shareholder rights and compulsory acquisition mechanisms alongside independent adviser appointment standards.
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