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E-MailFor a detailed memorandum from our Guest Contributor Ted Mirvis at Wachtell, Lipton, Rosen & Katz analyzing the final rules on cross-border business combinations, as published by the SEC on September 19, 2008, see here.
At a recent public meeting, the Securities and Exchange Commission adopted a number of amendments to the rules that apply to cross-border tender offers, business combinations and rights offerings. The SEC also approved the issuance of interpretive guidance on several topics related to cross-border transactions. These amendments and guidance largely follow the SEC’s May 2008 proposals, and, in many instances, codify existing no-action, interpretive and exemptive positions previously articulated by the staff of the SEC. The SEC intends for the new rules to facilitate and encourage the inclusion of U.S. security holders in cross-border transactions.
A memorandum discussing the amendments to the rules is available here.
