Regulatory Alerts2016-08-15
Malaysian Code on Take-Overs and Mergers 2016
The Second Minister of Finance, exercising powers under the Capital Markets and Services Act 2007, promulgated the Malaysian Code on Take-Overs and Mergers 2016 to regulate all persons engaged in such transactions. The Code establishes twelve general principles mandating equal treatment of shareholders, good faith conduct, full disclosure, and the appointment of independent advisers to protect minority interests. It also specifies that the 2010 Code is revoked while preserving the application of previous rules to transactions commenced before the new code's effective date of 15 August 2016.
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