Takeover Defenses In order to complete the theme about takeovers of listed companies, it is necessary to spend some words about “takeover defenses,” so today this entry is dedicated to this topic which is of extreme importance in this context. Under Article 67 of the Securities Law (csrc.gov.cn/pub/csrc_en/laws/rfdm/statelaws/200904/t20090429_102757.htm), if a “major event” occurs which may impact the trading price of the company’s shares and which is not known to the investors, the listed company shall report such event to the CSRC (csrc.gov.cn/pub/csrc_en/) and to the Stock Exchange, and announce the same. A special takeover committee is established by the CSRC to assist in dealing with the transaction; the committee provides consultation opinions on whether or not the takeover of a listed company is constituted, whether or not there is any circumstance under which a listed company may not be taken over, as well as other related matters... Read more: blawg.lehmanlaw/wordpress/?p=1888
Posted on: Fri, 07 Jun 2013 06:40:51 +0000
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