Brazilian stock market regulators late last week published new proposals to tighten rules on takeovers, which would seek to increase the clarity of deals.
The country’s lack of bid transparency in takeover deals was criticised in 2009 when French firm…
Brazilian stock market regulators late last week published new proposals to tighten rules on takeovers, which would seek to increase the clarity of deals.
The country’s lack of bid transparency in takeover deals was criticised in 2009 when French firm Vivendi submitted an offer for local telco GVT Holding, and the regulators are now eager to bring rules more in line with US and UK laws. There is believed to be a particular focus on increasing transparency during the time when the public takeover bids are made as well as time limits on public takeover bids, and required sufficient financial backing for the bids.
The proposal will be open to the public until May 25, after which time a decision on the proposal will be made.
