CapLaw-2023-60

  • The Continuing Conundrum in Public Tender Offers: Treatment of Participation Plans

    The Swiss Takeover Board (“TOB“) applies a relaxed standard to modifications of participation plans concerning the target’s board members and executives (“PPs“). This conflicts with the doctrine of ancillary benefits. In a recent newsletter the TOB seemed to announce a change in the doctrine of modifications to PPs in connection with a public offer so…

    By

    Ralph Malacrida

    Reference:
    Read more: The Continuing Conundrum in Public Tender Offers: Treatment of Participation Plans