Regulatory Alerts2020-10-01
Added · Updated
Communiqué on Merger and Demerger
The Capital Markets Board issued Communiqué II-23.2 to regulate procedures and principles for merger and demerger transactions involving publicly held corporations. The document mandates Board approval for announcement texts, requires expert valuation reports to determine fair exchange rates, and establishes strict financial statement and disclosure standards. It further defines specific protections for shareholders, rules for special purpose acquisition companies, and restrictions on share trading following mergers with non-publicly held entities.
Topics
Share