Swiss Takeover Board

21.02.2020

AP Alternative Portfolio AG

The Swiss Takeover Board has exempted the public buyback program of AP Alternative Portfolio Ltd. from the provisions governing public takeover offers.



31.01.2020

LEM Holding SA

The Swiss Takeover Board has rejected the appeal filed by 7-Industries Holding B.V. against the decision 745/01 of 25 October 2019.



13.12.2019

Bossard Holding AG

The Swiss Takeover Board has acknowledged that the planned transfer of a shareholding in Bossard Holding AG does not trigger the duty to make a public tender offer.



29.11.2019

BFW Liegenschaften AG

The Swiss Takeover Board has determined that BFW Holding AG's public tender offer to the shareholders of BFW Liegenschaften AG meets the legal requirements.



25.11.2019

Schmolz + Bickenbach AG

The Swiss Takeover Board has rejected applications by Martin Haefner/BigPoint Holding AG and Liwet Holding AG for a restructuring exemption from the duty to make a tender offer in connection with the planned capital increase of Schmolz+Bickenbach AG. The Swiss Takeover Board points out that a restructuring exemption can only be granted as a last resort if other restructuring measures - i.e. those that can be implemented without a change of control - have already been taken (unsuccessfully) or appear to be unsuccessful from the outset (so-called subsidiarity of the restructuring exemption). This condition is not fulfilled in the present case, as it does not appear to be impossible from the outset that Schmolz+Bickenbach AG would be able to carry out a capital increase to an extent that would suffice for the restructuring without a change of control.



07.11.2019

Castle Alternative Invest AG

The Swiss Takeover Board has exempted the public buyback program of Castle Alternative Invest Ltd. from the provisions governing public takeover offers.



06.11.2019

SHL Telemedicine Ltd.

With interim decision 672/10, the Swiss Takeover Board has made statements with respect to the status of the procedure regarding the outstanding mandatory tender offer to the shareholders of SHL Telemedicine Ltd.



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.