Swiss Takeover Board


LifeWatch AG

The Swiss Takeover Board has determined that the public tender and exchange offer of AEVIS VICTORIA SA to the shareholders of LifeWatch AG meets the legal requirements.


Actelion Ltd

The Swiss Takeover Board has determined that Janssen Holding LLC's public tender offer to the shareholders of Actelion Ltd meets the legal requirements.


Orascom Development Holding AG

The provisions regarding public takeover offers are not applicable to the obligations of Orascom Development Holding AG resulting from the delisting of their Egyptian Depositary Receipts.


Adaptation of the Circular no. 3 of the Takeover Board

The Swiss Takeover Board has adapted its TOB Circular no. 3: Review of public takeover offers on 1 January 2017 to the revised Swiss Examination Standards 880 for the Examination of Public Takeover Offers. The changes are minor and concern only the dates in margin no. 2 of the TOB Circular no. 3.


Pax Anlage AG

The Swiss Takeover Board has determined that the pre-announcement of the public takeover offer of Basler Leben AG to the shareholders of Pax Anlage AG is in compliance with the legal provisions governing public takeover offers.


Alpine Select AG

The Swiss Takeover Board has exempted the public buyback program of Alpine Select Ltd from the provisions governing public takeover offers via a decision.

The Swiss Takeover Board (TOB) is a Federal Commission established under the Federal Act on Stock Exchanges and Securities Trading of March 24, 1995. The Takeover Board shall, in each case, ensure compliance with the rules applicable to public offers.