S’pore proposes takeover and merger changes to bolster regulation

Deal protection: Pedestrians go past high-rise office buildings in Singapore’s financial district. The SIC is proposing changes to improve the timeliness of schemes of arrangement and enhance disclosures to investors and shareholders. — AFP

SINGAPORE: The Securities Industry Council (SIC) has issued a consultation paper on amendments to Singapore’s Code on Take-overs and Mergers, with the aim to enhance regulation around such deals.

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