Singapore Code of Takeovers and Mergers is being reviewed

SINGAPORE - The Singapore Code of Takeovers and Mergers is being reviewed by the Securities Industry Council to take into account market developments and evolving international practices.

The market regulator issued a consultation paper on Monday, proposing amendments to the code, whose primary objective is to provide fair and equal treatment of all shareholders in a take-over or merger situation.

The review proposes to include greater certainty where there are competing offers, as well as encouraging the boards of takeover targets to be more proactive in safeguarding shareholders' interest.

The council said members of the public can submit suggestions to the council either by post or email by Aug 6.

rachaelb@sph.com.sg