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SIC proposes changes to takeovers and mergers code to protect competitive process, improve disclosures

The code was last revised in 2019

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Megan Cheah

Megan Cheah

Published Mon, May 5, 2025 · 07:01 PM
    • Among the key proposals is the implementation of rules to ensure that schemes of arrangement meant for takeovers are certain and timely.
    • Among the key proposals is the implementation of rules to ensure that schemes of arrangement meant for takeovers are certain and timely. PHOTO: PIXABAY

    [SINGAPORE] The Securities Industry Council (SIC) on Monday (May 5) issued a consultation paper on amendments to Singapore’s Code on Take-overs and Mergers, with the aim of enhancing regulation around such deals.

    The proposed changes intend to protect the competitive process of takeover and merger transactions, improve the certainty and timeliness of schemes of arrangement, and enhance disclosures to investors and shareholders.

    A key proposal to safeguard the competitive process for potential offerors is prohibiting deal protection measures, except in limited circumstances.

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