Regulatory Alerts2019-12-11
EAC Council Directive on Mergers and Takeovers
The Council of Ministers of the East African Community has issued a directive establishing minimum guidelines and harmonized procedures for takeover bids and mergers involving listed companies across Partner States. It mandates equal treatment for all security holders, defines equitable pricing and mandatory bid thresholds for acquiring effective control, and designates specific competent authorities to supervise cross-border transactions. Partner States must align their national laws with these provisions within one year to ensure transparent disclosure, protect minority shareholders, and maintain stable financial market operations.
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