Regulatory Alerts2014-12-26
Added · Updated
Communiqué on Takeover Bids
The Capital Markets Board of Turkey issued this Communiqué to establish the procedures and principles governing voluntary and mandatory takeover bids for publicly held corporations. It mandates that any entity acquiring control must submit a bid to protect all shareholders, ensuring equal treatment and full cash payment in Turkish Lira. The regulation defines control thresholds, sets strict timelines for bid initiation and execution, and prescribes specific formulas for determining the mandatory takeover bid price based on market averages and recent transaction values.
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