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Results: 1-10 of 14

“Loan to own” acquisition strategies and the return of creditors’ schemes of arrangement

  • Herbert Smith Freehills LLP
  • -
  • Australia
  • -
  • March 25 2013

The global financial crisis (GFC) has seen the development of more active and liquid secondary debt markets in Australia and, as a related matter, the

Court confirms reverse takeover did not result in a change of control

  • Herbert Smith Freehills LLP
  • -
  • Australia
  • -
  • November 19 2012

Reverse takeovers have been an area of controversy in Australia since the 2009 reverse takeover by Gloucester Coal Ltd for Whitehaven Coal Ltd, which was conducted by way of an all-scrip takeover bid

Parties paint themselves into the ‘truth in takeovers’ corner

  • Herbert Smith Freehills LLP
  • -
  • Australia
  • -
  • August 30 2012

In its hostile bid for Alesco, Dulux announced a proposed ‘best and final’ offer, comprising $2.05 cash and franking credits of up to $0.18 per share

Truth in takeovers where to now?

  • Herbert Smith Freehills LLP
  • -
  • Australia
  • -
  • March 29 2012

The Takeovers Panel has again declined to hold a bidder to a no increase statement, instead making a compensation order against the bidder

Attempt by Takeovers Panel to re-open a matter four months after the decision

  • Herbert Smith Freehills LLP
  • -
  • Australia
  • -
  • March 29 2012

A court has held that if the Takeovers Panel (Panel) makes a decision to accept undertakings in lieu of making a declaration of unacceptable circumstances: the Panel has no further power in relation to making that particular decision, and there is no power to extend the time to allow the Panel to make a declaration of unacceptable circumstances, unless its decision is vitiated by jurisdictional error

ASIC releases updated policy on downstream acquisitions

  • Herbert Smith Freehills LLP
  • -
  • Australia
  • -
  • December 6 2011

ASIC has released a draft updated Regulatory Guide on downstream acquisitions of Australian companies that are subject to the takeover regime

Further developments on pre-scheme call option agreements

  • Herbert Smith Freehills LLP
  • -
  • Australia
  • -
  • August 31 2011

The law and market practice relating to pre-scheme call option agreements continues to evolve as bidders seek to push the envelope in terms of deal protection in schemes

Further developments on pre-scheme call option agreements

  • Herbert Smith Freehills LLP
  • -
  • Australia
  • -
  • August 31 2011

The law and market practice relating to pre-scheme call option agreements continues to evolve as bidders seek to push the envelope in terms of deal protection in schemes

Takeovers Panel updates guidance notes

  • Herbert Smith Freehills LLP
  • -
  • Australia
  • -
  • May 30 2011

The Takeovers Panel has updated its guidance notes on the minimum bid price rule, frustrating action, broker handling fees and trust schemes

Latest developments on pre-scheme option and voting agreements

  • Herbert Smith Freehills LLP
  • -
  • Australia
  • -
  • February 23 2011

Call option agreements and voting agreements (or public statements of support) have become increasingly prevalent deal protection devices in schemes of arrangement