Comparative Analysis of Corporate Takeover Laws and Their Applications

Abstract

This research work is a Project assigned to the research team of Symbiosis Law School, Pune by ITC Limited to understand the takeover regulations and procedures in the United States of America, United Kingdom, France, Germany, Australia, Hong Kong, Malaysia and Singapore. The importance of the rule-making process in determining the substantive regulatory outcome was also studied by the team. The study demonstrates how historical events, economic, regulatory & legislative structures and judicial & administrative mechanisms have impacted take-over deals in the above jurisdictions. The Introductory Chapter deals with the definition of Takeover, how it differs from Mergers, advantages of Takeover, related theories, risks involved and posits the scope of present study of Takeovers. Each of the subsequent seven chapters specifically deals with the historical perspectives, relevant statutes, regulations, prominent and landmark cases in the national context of United States of America, United Kingdom, European Union (mainly France & Germany), Australia, Hong Kong, Singapore and Malaysia.The concluding chapter captures the summary with similarities, differences and best practices. The vast difference in the legal, judicial and regulatory framework and the processes in takeover processes in the given jurisdictions is presented in a table format in the Annexure as Ready-Reference.