Regulatory Alerts2020-10-01
Added · Updated
Communiqué on Takeover Bids
The Capital Markets Board issued this Communiqué to establish the procedures and principles governing voluntary and mandatory takeover bids for publicly held corporations. It mandates that acquirers obtaining control must submit a bid to protect all shareholders, ensuring equal treatment and full cash payment in Turkish Lira. The document defines control thresholds, sets strict pricing formulas based on market averages and recent transactions, and outlines disclosure requirements and penalties for non-compliance.
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