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

Swiss Steel Holding AG

The Swiss Takeover Board informs that as of 26 November 2020 it has received a total of 41 mostly identical notifications in accordance with art. 62 para. 2 TOO relating to Swiss Steel Holding AG (formerly Schmolz+Bickenbach AG) and to the decision of the Financial Market Supervisory Authority FINMA of 6 December 2019 that granted an exemption from the duty to make a public tender offer according to art. 136 para. 1 let. e FMIA in favor of BigPoint Holding AG and Martin Haefner. The Swiss Takeover Board points out that it will not publicly inform about potential procedural steps in this matter.

Neues UEK-Rundschreiben Nr. 5

Inkraftsetzung des neuen UEK-Rundschreiben Nr. 5: Sanierungsausnahme / Sanierungskonzept der Zielgesellschaft vom 2. September 2020 Die Übernahmekommission hat ein neues Rundschreiben erlassen, das „UEK-Rundschreiben Nr. 5: Sanierungsausnahme / Sanierungskonzept der Zielgesellschaft“ (RS 5). Das RS 5 soll die Rechtssicherheit für die Marktteilnehmer erhöhen, indem es ausführt, welche Informationen die Übernahmekommission im Grundsatz benötigt, um ein Gesuch um Erteilung einer sog. Sanierungsausnahme zu beurteilen. Damit werden Gesuchsteller und Zielgesellschaft in die Lage versetzt, rechtzeitig die entsprechenden Informationen aufzubereiten, damit die Prüfung eines entsprechenden Gesuchs durch die Übernahmekommission möglichst rasch erfolgen kann.

Sunrise Communications Group AG

The Swiss Takeover Board has determined that UPC Schweiz GmbH's public tender offer to the shareholders of Sunrise Communications Group AG meets the legal requirements.

MCH Group AG

In its decision 765/02 of 20 August 2020, the Swiss Takeover Board has partially approved the appeal filed by LLB Swiss Investment Ltd. against the decision 765/01 of 13 July 2020 and determined that the formally selective opting-up clause, which was voted on at the extraordinary general meeting of MCH Group Ltd. on 3 August 2020, is invalid under takeover law.  

MCH Group AG

The Swiss Takeover Board has made statements with regard to an application of MCH Group AG and Lupa Systems LLC with respect to MCH Group AG.

Meyer Burger Technology AG

The Swiss Takeover Board has made certain findings with regard to the non-existence of the obligation to make an offer in connection with a capital increase to be carried out by Meyer Burger Technology Ltd.

Basilea Pharmaceutica AG

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