International Law

Disclosure of equity derivatives in takeovers

The Takeovers Panel has released a guidance note considering when non-disclosure of long equity derivative positions may give rise to unacceptable circumstances in a takeover.

Where there is a control transaction, the Panel would expect that all long positions which already exist, or which are created, are disclosed unless they are under a notional 5%.

Full post as published by Australian Regulatory Compliance Review on April 13, 2008 (boomark / email).