Gov’t seeks to enhance regulation of take-overs and mergers

Key proposals include protecting the competitive process for potential offerors.

The government seeks to enhance the regulation of takeovers and mergers in Singapore following a consultation paper on proposed amendments.

Key proposals include protecting the competitive process for potential offerors by regulating deal protection measures as these could deter higher offers from competing offerors.

Additionally, proposed rules require offerors in schemes of arrangement to promptly take the necessary procedural steps for the scheme to become effective. An offeror who has issued statements should also not make a subsequent offer within a certain window.

The proposal requires an offeror to improve the information shareholders receive to make decisions regarding frustrating actions. A frustrating action is one taken by the offeree board that might prevent shareholders from considering an offer.

Interested parties can submit written comments to the council via email to by Thursday, 5 June.