SWISS TAKEOVER BOARD

Swiss Takeover Board

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.        

News

Idorsia Ltd.

The Swiss Takeover Board has granted Jean-Paul Clozel and Martine Clozel an exemption from the duty to make a public tender offer concerning Idorsia Ltd.

Peach Property Group AG

The Swiss Takeover Board has granted Ares Management Corporation an exemption from the duty to make a tender offer concerning Peach Property Group AG.

lastminute.com N.V.

The Swiss Takeover Board has made statements regarding the non-existence of the obligation to launch a tender offer to lastminute.com N.V.’s shareholders in connection with changes in the shareholder structure of lastminute.com N.V.’s main shareholder and the entering into a shareholders’ agreement amongst the shareholders of lastminute.com N.V.’s main shareholder.

Rothschild & Co Global Advisory Switzerland AG

The Swiss Takeover Board has stated that Rothschild & Co Global Advisory Switzerland AG is suitably qualified in the sense of art. 30 para. 6 TOO to establish fairness opinions in the context of public tender offers.

ams AG

The Swiss Takeover Board has made statements regarding the buyback program of ams AG.

Swiss Steel Holding AG

A request of Liwet Holding AG pursuant to which it was to be held that Martin Haefer/BigPoint Holding AG could not invoke the exception from the duty to make a public tender offer based on the decision of the Swiss Financial Market Supervisory Authority FINMA of 6 December 2019 was rejected by the Swiss Takeover Board. Additionally, the Swiss Takeover Board made statements with respect to the calculation of the minimal price of a potential public tender offer of Martin Haefner/BigPoint Holding AG according to the temporary exception from the duty to make a public tender offer based on the decision of the Swiss Financial Market Supervisory Authority FINMA of 6 December 2019.  

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.