Takeover regulatory authorities in different jurisdictions | Practical Law

Takeover regulatory authorities in different jurisdictions | Practical Law

The PLC Cross-border Mergers and Acquisition Handbook 2010/11 answers key questions on public mergers and acquisitions law from the perspective of practitioners in 31 jurisdictions.

Takeover regulatory authorities in different jurisdictions

Practical Law UK Legal Update 9-503-5014 (Approx. 2 pages)

Takeover regulatory authorities in different jurisdictions

by PLC Cross-border
Published on 06 Oct 2010
The PLC Cross-border Mergers and Acquisition Handbook 2010/11 answers key questions on public mergers and acquisitions law from the perspective of practitioners in 31 jurisdictions.
In each of the 31 jurisdictions covered in the PLC Cross-border Mergers and Acquisitions Handbook 2010/11, there is at least one authority that is routinely involved in the regulatory supervision of public takeovers and acquisitions. For example, in France, the Financial Markets Authority (Autorité des Marchés Financiers) (AMF) is the main supervisory authority for public takeovers and in Germany, compliance with the Takeover Act is regulated by the Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht) (BaFin).
Additional regulatory authorities may be involved, depending on the nature of the takeover transaction and the particular jurisdiction. For example, takeovers that raise competition issues can involve the relevant national competition authority (such as the Competition Council in Belgium). Transactions in highly regulated sectors, for example the telecommunications industry, can attract the attention of sectoral regulators, such as the Telecommunications Authority of Hong Kong.
It is important, therefore, to be aware of the possible regulatory authorities that may be involved on a takeover. The most recent edition of the PLC Cross-border Mergers and Acquisitions Handbook considers this, among other issues. Question 4 of each country-specific Q&A looks at the public bodies that primarily regulate public takeovers and mergers, and Question 25 considers whether other regulatory approvals may be required. The Regulatory authorities box at the end of each chapter contains the contact details for the main regulatory authority in that jurisdiction.