Case studies added to Guidance Note on Upstream Acquisitions

Published 1 March 2015

The Panel has updated its Guidance Note on Upstream Acquisitions to include two case studies, summarising the Panel’s application of its policy:

(a) the proposed acquisition of 100% of the voting rights in Opus Group Berhad, the upstream parent of Opus International Consultants Limited, a New Zealand Code company, by Faber Group Berhad; and

(b) the proposed merger of AMP Limited with the Australasian business of AXA Asia Pacific Holdings Limited.

“...takeover offers must be on the same terms and conditions as those contained in, or accompanying, the takeover notice, with limited exceptions.”