2012-12-8 15:52
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abercrombie france ASIC warns on stealth takeovers
''Most people think the creep rule probably is something that is an anachronism,[url=http://www.louboutinpascherespaccio.com]louboutin pas cher[/url]. It is sort of inconsistent with the whole idea of takeover law, which is to make sure that,[url=http://www.airjordanpascherespaccio.com]air jordan[/url], when there is a change of control and there is perhaps a potential premium to be paid,[url=http://www.xitrumc8.com/hinhanh/displayimage.php?pos=-47]Bad News For WA's Iron Ore Miners[/url], then everyone should have an opportunity to share in that,[url=http://www.piuminimoncleroutletspaccioit.com]moncler[/url]. [But] if you do a creep then you can actually get control without paying a premium; there is sort of basically a contradiction there,[url=http://www.abercrombieparis4france.com]abercrombie[/url].''
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The commission has also indicated it intends to take a more pro-active approach with the Takeovers Panel to resolve situations in which a suitor with a shareholding below 20 per cent is attempting to take control through other means,[url=http://xn--um-mw2d1rese37uzpc.chunpeng.info/viewthread.php?tid=1498465&extra=]louboutin Slow uptake on bank-switching service[/url].H"\#BeR|,^/T#` @w
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''It's a matter for government, we've identified some issues we think should be considered,[url=http://ezphp.bob.buttobi.net/pw/read.php?tid=24747]abercrombie Banks damned if they do and damned if they don't[/url], it's really up to Treasury and then for Treasury to advise the government,'' Mr Medcraft told reporters yesterday,[url=http://www.eudoudounemonclerboutique.com]moncler[/url].+}~j4U
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Not all the proposed changes will depend on a green light from Treasury and the government. Proposed changes to continuous disclosure laws are already in train to be announced later this year.Bq`&~]2W{
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Some of the recommendations from ASIC which require government approval include limiting potential suitors to acquiring 1 per cent of a company every six months and capping a suitor's ability to creep up the register at 25 per cent to 30 per cent,[url=http://www.piuminimoncleroutletspaccioit.com]moncler outlet[/url].N%h.r G3p
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Mr Medcraft said ASIC had spoken to Treasury and would be making a written submission to the government department about these issues within days.tPzCyC ?
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THE Australian Securities and Investments Commission chairman, Greg Medcraft, continued his campaign yesterday to overhaul the takeover laws,[url=http://www.abercrombieparis4frboutique.com]abercrombie france[/url], but gave no indication whether he believed the government would take up his crusade,[url=http://www.airjordanpascherespaccio.com]air jordan pas cher[/url].
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But he claimed that the proposals, which include big changes to the creep provisions,[url=http://www.abercrombieparis4france.com]abercrombie france[/url], have received support from the business community.