Amendments to the Takeover Act have been prepared by the Ministry for Economic Development and Technology for public discussion. It will implement CAJG standards for corporate actions in line with T2S.
The amended act will:
- Define a minimum break-even threshold for successful obligatory takeover bids at 50%.
- Assure a higher level of transparency of the takeover procedure and increase disclosure obligations of a bidder.
- Increase disclosure obligations involving trades of a takeover company to members of the Management and Supervisory Board of the bidder.
- Define just compensation for minority shareholders for a squeeze-out.
The act will likely be adopted by the end of 2015.
Vanda Močnik Kohek
Senior Relationship Manager, Global Securities Services Slovenia