News 
09.01.2010Job vacancy: Legal Counsel (m/f) or Business Economist (m/f)
To replace a vacant position, the Swiss Takeover Board is looking for a Legal Counsel (m/f) or a Business Economist (m/f)
23.08.2010
Day Software Holding AG
The Swiss Takeover Board has determined that the public offer of Adobe Systems Benelux B.V. to the shareholders of Day Software Holding Inc meets the legal requirements.
30.07.2010
Genolier Swiss Medical Network SA
The Swiss Takeover Board has determined that neither Michael Schröder nor Katrin Reincke-Schröder acted in concert with Alain Fabarez, Lincoln Vale European Partners Master Fund L.P. and Jaime Rosell on the occasion of the general assembly of 9 June 2010 of Genolier Swiss Medical Network SA.
07.08.2010
Advanced Digital Broadcast Holdings SA
The Swiss Takeover Board has acknowledged the absence of a duty to make an offer regarding Advanced Digital Broadcast Holdings SA for the shareholder group composed of Andrew Rybicki, Maria Rybicki, Katherine Rybicki-Justo, Sofia Justo, John Justo, Chen Yun "Jessica" Lu, Krzysztof Bilinski, Pierre-Alain Nicati, François Pogodalla, Alessandro Brenna, Tina Nyfors, Thomas Steinmann, 4T SA and Gesualdo Ltd.
07.08.2010
Buyback programmes at market price on a separate trading line: New auction model
A working group consisting of the Swiss Takeover Board, the SIX Swiss Exchange and the FINMA has developed an auction model that aims to replace the separate trading line used for buyback programmes. From 22 March until 16 April 2010, the Swiss Takeover Board carried out a public consultation that was addressed to interested parties.
From today, the results of this consultation can be retrieved at http://www.takeover.ch/legaltexts/detail/id/186/lang/en .
The project regarding the revision of the separate trading line for buyback programmes will be carried on by the FINMA as the leading authority, in collaboration with the Swiss Takeover Board. At a later date, the FINMA will inform about the further proceedings.
29.06.2010
TOB Circular No. 3: Examination of Public Takeover Offers
The Swiss Takeover Board has adopted its TOB Circular No. 3 "Examination of Public Takeover Offers" on 25th June 2010.
21.06.2010
Mach Hitech AG in Liquidation
The Swiss Takeover Board has granted an exemption to K-S Anlage AG from the duty to make an offer to the shareholders of Mach Hitech AG.
06.08.2010
COS Computer Systems AG
The Swiss Takeover Board has acknowledged the absence of a duty to make an offer regarding COS Computer Systems AG for Johannes Hubertus Jozef Maria Kelders.
06.03.2010
Form "Declaration of transactions during a buyback programme"
The Swiss Takeover Board has published today its form for the declaration of transactions during a buyback programme.
06.02.2010
HBM BioVentures
The Swiss Takeover Board has, in the context of the current buyback, granted an exemption to HBM BioVentures AG regarding blackout periods.
26.05.2010
Revision of Art. 69 TOO
26 May 2010: With decision dated 26 February 2010, the Takeover Board has revised the scale of fees in Art. 69 TOO, which was approved by the Swiss Financial Market Authority on 22 April 2010. This modification was published today in the Official Compilation of Federal Legislation and enters into force on 1 June 2010.
30.04.2010
Activity report 2009
The Swiss Takeover Board has published today its activity report 2009
20.04.2010
Transocean Ltd.
The Swiss Takeover Board has exempted the public buyback program of Transocean Ltd., Zug, from the provisions governing public takeover offers via a decision.
22.03.2010
TOB Circular No. 1 : Buyback programmes and consultation about the revision of the separate trading line
The Swiss Takeover Board has published "TOB Circular No. 1 : Buyback programmes", dated 26 February 2010, and has opened a consultation about the revision of the separate trading line. The TOB has also unified the nomenclature of its publications.
17.03.2010
CI Com SA
The Swiss Takeover Board has acknowledged the absence of a duty to make an offer regarding CI Com SA for Alain Dumenil and Dual Holding SA.
03.12.2010
Siegfried Holding AG
The Swiss Takeover Board has acknowledged the absence of a duty to make an offer for Rainer-Marc Frey, Herbert Item, Thomas Schmidheiny, SE Swiss Equities AG, Sigamed AG and Camellia Holding AG regarding Siegfried Holding AG. Moreover, an exemption from such a duty has been granted to Rainer-Marc Frey.
03.04.2010
TOB Circular No. 2 : Liquidity in the context of Takeover Law
The Swiss Takeover Board has published today its TOB-Circular No. 2: Liquidity in the context of Takeover Law, together with an information letter and an expert report.
29.12.2009
Jelmoli Holding AG
The Swiss Takeover Board has acknowledged that Swiss Prime Site meets the Best Price Rule by acquiring options which refere to shares of Jelmoli in a squeeze out or otherwise to a certain price in exchange for shares of Swiss Prime Site or for cash payment.
12.03.2009
Cham Paper Group Holding AG
The Swiss Takeover Board has determined that the public offer of BURU Holding AG to the shareholders of Cham Paper Group Inc meets the legal requirements.
20.11.2009
BioXell S.p.A.
On 18 November 2009, Cosmo Pharmaceuticals S.p.A., Milan, Italy, published the preannouncement of a public tender offer for all publicly held registered shares of BioXell S.p.A., Milan, Italy. BioXell S.p.A. is an Italian company listed on the SIX Swiss Exchange.
In its preannouncement, Cosmo Pharmaceuticals S.p.A. states that the Swiss provisions regarding public tender offers are not applicable. However, it declares that it will voluntarily submit to the material provisions of this law.
The Swiss Takeover Board confirms that, according to Art. 22 of the Federal Act on Stock Exchanges and Securities Trading (SESTA), the offer of Cosmo Pharmaceuticals S.p.A. is not to be submitted to the Swiss rules in substance. Therefore, it will not verify the conformity of this offer to the Swiss rules and will not issue a decision regarding this matter.
18.11.2009
Thurella AG
The Swiss Takeover Board has acknowledged the absence of a duty to make an offer regarding Thurella AG for Zürcher Kantonalbank, Thurgauer Kantonalbank, Reichmuth & Co., NERBAG, Mr. Markus Eberle and Baryon AG.
16.11.2009
Implenia AG
16 November 2009 - The Swiss Takeover Board has granted an exemption for Credit Suisse from the duty to make an offer to the shareholders of Implenia AG. Furthermore the Swiss Takeover Board stated that Credit Suisse is not forming a group with the Laxey-Group or with the purchasers of the Implenia-stake. The Swiss Takeover Board also has acknowledged the absence of a duty to make an offer for the purchasers, if none of them exceeds the threshold of 33 1/3% of the voting rights of Implenia AG.
11.05.2009
Arpida AG
The Swiss Takeover Board has acknowledged the absence of a duty to make an offer regarding Arpida AG for Sunstone Life Science Ventures Fund I KlS, Symbion Capital I a/s, Aravis General Partner Limited, Novartis Bioventures Limited, Astellas Venture Capital LLC and Dansk Innovations-investering P/S.
14.10.2009
Athris Holding AG
The Swiss Takeover Board has determined that the public offer of Pelham Investements AG to the shareholders of Athris Holding AG meets the legal requirements.
10.02.2009
Draft of Swiss Auditing Standard (draft-AS 880)
Today the Swiss Institute of Certified Accountants and Tax Consultants has published the draft of a new Swiss Auditing Standard on the examination of Public Takeover Offers (draft-AS) 880 for public consultation. The draft of the AS 880 is currently available in German and French on the website of the Swiss Institute of Certified Accountants and Tax Consultants (www.treuhand-kammer.ch) under the heading „Publikationen und Downloads/Wirtschaftsprüfung/ Prüfungsstandards".
10.01.2009
Canon Schweiz AG
The Swiss Takeover Board has determined that the public offer of Canon Europa N.V. to the shareholders of Canon (Switzerland) Ltd. meets the legal requirements.
14.09.2009
Jelmoli Holding AG
The Swiss Takeover Board has ascertained that the amended offer of Swiss Prime Site AG to the shareholders of Jelmoli Holding AG, which was published today, respects the legal requirements.
09.11.2009
Petroplus Finance Ltd
The Swiss Takeover Board has exempted the public buyback offer of Petroplus Finance Ltd, Hamilton, Bermuda, for the 3.375% convertible bonds 2008 - 2013 on conditions from the provisions governing public takeover offers.
09.09.2009
LO holding Lausanne-Ouchy S.A. / JJM Participations SA
The Swiss Takeover Board has ascertained the compliance of the public offer of Mobimo Holding AG to the shareholders of LO holding Lausanne-Ouchy S.A. and to the shareholders of JJM Participations SA with the legal requirements.
09.07.2009
HBM BioVentures AG
7 September 2009 - The Swiss Takeover Board has exempted the public buyback program of HBM BioVentures AG from the provisions governing public takeover offers.
09.03.2009
LO holding Lausanne-Ouchy S.A. / JJM Participations SA
3 September 2009 - The Takeover Board has issued a decision regarding the Best Price Rule.
19.08.2009
LO holding Lausanne-Ouchy S.A. / JJM Participations SA
19 August 2009 - The Takeover Board has decided that the exchange ratio for JJM Participations-shares (aka "NewCo" in the pre-announcement of 23 July 2009) offered in the pre-announcement published by Mobimo Holding AG does not comply with the principle of equal treatment and must be substituted by a provision conforming with the law of public takeovers.
25.07.2009
EFG International AG
25 July 2009 - The Swiss Takeover Board has acknowledged the absence of a duty to make an offer, respectively granted an exemption from such a duty for the controlling shareholders of EFG International AG, Zurich.
14.07.2009
Jelmoli Holding AG
14 July 2009 - The Swiss Takeover Board has ascertained the compliance of the offer of Swiss Prime Site AG related to all publicly held registered shares of Jelmoli Holding AG with the legal requirements.
07.09.2009
BB Medtech AG
9 July 2009 - The Swiss Takeover Board has published the following decision in the offer of Vontobel Beteiligungen AG related to all publicly held registered shares of BB Medtech AG regarding the Offering Prospectus and the Report of the Board of Directors.
07.06.2009
Revision of the Circular n° 1
6 July 2009 - The Swiss Takeover Board has received 19 statements during the period of consultation on the revision of the Communication n° 1. These statements have been published today on its website.
24.06.2009
Métraux Services SA
24 June 2009 - The Swiss Takeover Board has determined that the public offer of Swiss Automotive Group AG to the shareholders of Métraux Services SA meets the legal requirements
16.06.2009
Quadrant AG
16 June 2009 - The Swiss Takeover Board has rejected the appeal filed by Sarasin Investmentfonds AG against the decision 410/01 of 29 May 2009 and confirmed the compliance of the offer of Aquamit B.V. with the legal requirements.
06.04.2009
shaPE Capital AG
4 June 2009 - The Swiss Takeover Board has exempted the public buyback program of shaPE Capital AG from the provisions governing public takeover offers.
06.03.2009
Harwanne Compagnie de participations industrielles et financières SA
3rd June 2009 - The Swiss Takeover Board examined the evaluation of the Harwanne shares and decided that the price offered by MMA (CHF 3.45) respects the takeover regulations. She ended the cooling-off period and appointed the 4th June 2009 as the first day of the acceptance period.
06.02.2009
Quadrant AG
2 June 2009 - The Swiss Takeover Board has determined that the public offer of Aquamit B.V. to the shareholders of Quadrant AG meets the legal requirements.
19.05.2009
Harwanne Compagnie de participations industrielles et financières SA
Medienmitteilung vom 19. Mai 2009
28.04.2009
Revision of the Circular n° 1
28th April 2009 : The Swiss Takeover Board opens a period of consultation on the revision of the Communication n° 1 on the equity security purchases. Interested parties can send their statement until 7th June 2009 to the Swiss Takeover Board.
23.04.2009
Zwahlen & Mayr SA
23 April 2009 - The Swiss Takeover Board has granted an exemption from the duty to make an offer, respectively acknowledged the absence of such a duty for the majority shareholders of Zwahlen & Mayr SA.
17.04.2009
Amending of Communications No. 1 and No. 2 in accordance with the new law / rescinding of Communication No. 3
17 April 2009. - The Takeover Board has amended the form of Communication No. 1 ("Regarding Equity Security Repurchases") and Communication No. 2 ("On the concept of liquidity") in accordance with the new law, which came into force on 1 January 2009. No amendment to the content was involved.
The Takeover Board has also rescinded without replacement Communication No. 3 ("Cancellation of outstanding equity securities after a public takeover offer"). There was no longer any need for this Communication.
04.08.2009
Partners Group Holding AG
Verfügung 408/01 vom 2. April 2009. Öffentliches Rückkaufprogramm - Gesuch um Freistellung von der Anwendung der Bestimmungen über die öffentlichen Kaufangebote.
04.07.2009
Harwanne Compagnie de participations industrielles et financières SA
The FINMA Takeover Committee dismissed the appeal of MMA Vie SA against the decision 403/02 of the Takeover Board dated 16 March 2009. As a result, MMA Vie SA must provide the Takeover Board by 15 April 2009 with an evaluation of the securities which are object of the bid.
04.06.2009
Harwanne Compagnie de participations industrielles et financières SA
Ergänzung des Verwaltungsratsberichts
04.02.2009
Harwanne Compagnie de participations industrielles et financières SA
Verfügung 403/04 in Sachen Harwanne Compagnie de participations industrielles et financières SA vom 2. April 2009
04.02.2009
Harwanne Compagnie de participations industrielles et financières SA
Verfügung 403/05 in Sachen Harwanne Compagnie de participations industrielles et financières SA vom 2. April 2009
31.03.2009
Harwanne Compagnie de participations industrielles et financières SA
Decision 403/03 re Harwanne Compagnie de participations industrielles et financières SA from march, 30 2009
20.03.2009
Hammer Retex Holding AG
Verfügung in Sachen Hammer Retex Holding AG vom 17. März 2009
18.03.2009
Hammer Retex Holding AG
Voranmeldung
18.03.2009
Harwanne Compagnie de participations industrielles et financières SA
Verwaltungsratsbericht
17.03.2009
Harwanne Compagnie de participations industrielles et financières SA
Decision re Harwanne Compagnie de participations industrielles et financières SA from march, 16 2009
03.12.2009
Ciba Holding AG
Verfügung in Sachen Ciba Holding AG vom 11. März 2009
03.11.2009
Art & Fragrance SA
Decision Art & Fragrance SA from march, 6 2009
03.06.2009
Athris Holding AG
Empfehlungen in Sachen Athris Holding AG vom 26. September 2008 und 18. November 2008
03.05.2009
Zurich Financial Services
Decision Zurich Financial Services from february, 27 2009
03.03.2009
Harwanne Compagnie de participations industrielles et financières SA
Decision Harwanne Compagnie de participations industrielles et financières SA from February 17, 2009
20.02.2009
Schweizerische Rückversicherungs-Gesellschaft AG
Decision Schweizerische Rückversicherungs-Gesellschaft AG from February 17, 2009
13.02.2009
Esmertec AG
Decision Esmertec AG from february 10, 2009
02.12.2009
sia Abrasives Holding AG
Decision sia Abrasives Holding AG from February 11, 2009
02.09.2009
Communication No. 4
30.01.2009
Harwanne Compagnie de participations industrielles et financières SA
Voranmeldung eines öffentlichen Übernahmeangebots
23.01.2009
Speedel Holding AG
Verfügung in Sachen Speedel Holding AG vom 20. Januar 2009
12.11.2008
Orascom Development Holding AG
Recommendation Orascom Development Holding AG from december 3, 2008
12.11.2008
Helvetia Holding AG
Recommendation Helvetia Holding AG from december 11, 2008