Regulatory Alerts2010-01-01
Securities (Takeover) Rules 2010
The Financial Services Commission of Mauritius issued these rules to establish a comprehensive regulatory framework governing corporate takeover offers for reporting issuers. The regulations mandate strict conduct standards including firm intention announcements, standardized pricing mechanisms with automatic upward revisions, and compulsory unconditional offers for acquirers exceeding 30 percent effective control. They further enforce equal shareholder treatment, restrict pre- and post-announcement dealings to prevent market distortion, and empower an independent adviser and Takeover Advisory Panel to oversee offer validity and minority shareholder protections.
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