Suchergebnisse für Ausnahmen von der Angebotspflicht

Sanierungsausnahme und selektives Opting out/up – ein Vergleich

If a listed company is in financial difficulties and has found a potential restructurer who wishes to acquire a larger shareholding but does not wish to be under an obligation to make an offer to acquire all listed equity securities of the company, under the Swiss takeover law two alternatives stand in the foreground: applying for an exemption from the obligation to make an offer for…

Transparenz von Aktionärbindungsverträgen und Gesellschafte­r­bindungsverträgen in Kapitalgesellschaften

A shareholders’ or members’ agreement is a contract concluded by some or all shareholders or members of a company, eventually with the involvement of the company itself, in order to arrange their legal position complementary to or differing from the relevant company law framework. Although dogmatically diverging, the contractual provisions and company law norms often form a unity. However,…

Öffentliche Übernahmen von Publikumsgesellschaften: Möglichkeiten und Schranken des Einsatzes von Mitteln der zivilrechtlichen Rechtsdurchsetzung

Civil claims may be raised in the context of public tender offer proceedings. From a timing perspective, however, civil proceedings and public tender offer proceedings can hardly be synchronized. Whereas a public tender offer proceeding is driven by short deadlines and fast decision-making, civil proceedings may last several years. Based on two practical examples, the present article explores the…

Développements du droit suisse des OPA

This survey of Swiss takeover law focuses on some of the most interesting recent transactions, which are discussed under three aspects : material and territorial scope of the law ; companies which have opted out of mandatory offer for shareholders who pass the 33⅓ % threshold ; and share buy back programs. We also discuss the controversial issue whether a bidder may subject its offer to a…