Unacceptable Circumstances in Takeovers
Malayan Law Journal, Vol. 6, No. 10, 2010
14 Pages Posted: 26 Jul 2011
Date Written: July 25, 2011
Abstract
This paper seeks to examine in detail the conduct of the board of the target which may amount to frustration of a takeover bid in Malaysia. Further, this paper will examine the various conducts which may constitute unacceptable circumstances in takeovers. In order to shed some light upon the discussion, the Australian experience on frustration and unacceptable circumstances will be referred to. This paper will also discuss the emerging devices in takeovers and mergers deal which are currently gaining popularity in Malaysia and examine on whether such devices will amount to a frustrating action. The discussion thus will focus on deal protection measures which will include lock-up devices and break fees agreement.
Keywords: lock-up devices, break fees agreement, takeovers
JEL Classification: K22
Suggested Citation: Suggested Citation