The Board meeting of SEBI held recently announced the new takeover code based on the report of the Takeover Regulations Advisory CommiÂttee (TRAC) submitted earÂlier in July 2010. The TRAC recoÂmmendations accepted inÂclÂuÂde: The minimum offer size shall be increased to 26 per cent of the total issued capital from the existing 20 per cent of the total issued capital; Initial trigger threshold increased to 25 per cent from the existing 15 per cent; There shall be no separate provision for non-comÂpete fees and all shareholders shall be given exit at the same price; In cases of competitive offers, the successful bidder can acquire shares of other bidder(s) after the offer period without attracting open offer obligaÂtÂions; and A recommendation on the offer by the Board of Target Company has been made mandatory. The Board however, did not accept the recommendation of TRAC to provide for delisting pursuÂant to an offer and proportioÂnate acceptance.
FlashNews:
JSW Paints to Acquire Majority Stake in Akzo Nobel India in ₹89.86 Billion Deal
India to Extend Digitalisation of Public Services to the Power Sector with India Energy Stack
Whoever controls Antariksha (outer space) will rule Prithvi (the world)”: Dr. Subba Rao Pavuluri
Electricity futures key to managing power price volatility”: NSE’s Sriram Krishnan
InfraPandit Awards to Honour Doctoral Excellence in Infrastructure
REC Wins Leading CSR and Sustainability Award for Healthcare Support
HAL Set to Enter New Global Space Race with SSLV Contract Win
Multimodal Logistics: Optimising Assets, Strengthening Supply Chains
Gadkari Announces FASTag Annual Pass to Ease Private Vehicle Movement from Independence Day
Air India 171 Crash: A Definitive Inflection Point for Indian Aviation
REC Reports Strong Profit Growth
GAIL Reports Record Profit Surge
India Calls for Inclusive Energy Governance at BRICS Meet
Mumbai-Ahmedabad Bullet Train’s 300 km Viaduct Milestone
India Revokes Security Clearance to Turkish Firm Çelebi
Major Ports Handle Record Cargo Throughput in FY2025
India Committed to Unlocking Energy Potential: Puri
Gaganyaan Scheduled for 2027 Launch
Defence Budget Set for Rs.500 Billion Top-up
Home » SEBI's new takeover code
SEBI's new takeover code
ECONOMY & POLICY
August 1, 2011August 1, 2011

Leave a Reply
You must be logged in to post a comment.