The Situation: The Australian government has introduced significant changes to its foreign investment review framework. The centrepiece of the changes is an enhanced review of acquisitions of property or businesses which are...more
Liability for companies launching an Australian IPO or takeover changed significantly this year—with not so much as a murmur of protest from the market. Due diligence just got more important, but the reason may surprise...more
10/3/2019
/ Acquisitions ,
ASIC ,
Board of Directors ,
Corporate Criminal Fines ,
Corporate Financing ,
Criminal Liability ,
Foreign Acquisitions ,
Initial Public Offering (IPO) ,
Mergers ,
Prospectus ,
Publicly-Traded Companies ,
Takeovers
The Situation: The Australian Securities and Investments Commission ("ASIC") recently released its report on its corporate finance regulatory activities for the first half of 2019.
The Result: While ASIC's report makes...more
10/3/2019
/ Acquisitions ,
ASIC ,
Australia ,
Board of Directors ,
Controlled Transactions ,
Corporate Financing ,
Cross-Border Transactions ,
Foreign Acquisitions ,
Mergers ,
Publicly-Traded Companies ,
Scheme of Arrangement
The Situation It was recently reported that an Australian proxy adviser had queried whether the directors of a substantial Australian Securities Exchange-listed ("ASX") target, DuluxGroup, should have negotiated a Go Shop...more
Like many countries, Australia is taking a careful look at proposed investments by foreign entities, particularly when certain sensitive industries or a government agency are involved. Jones Day's Mark Crean, Ingrid...more
4/4/2019
/ Approval Requirements ,
Australia ,
Critical Infrastructure Sectors ,
FIRB ,
Foreign Acquisitions ,
Foreign Corporations ,
Foreign Direct Investment ,
Foreign Entities ,
Foreign Investment ,
Government Agencies ,
Investors ,
Mergers ,
National Security ,
Notification Requirements
In Australia, a clear procedure does not exist for ASX-listed companies to obtain financing from their existing shareholder base for conditional acquisitions. Generally, a company will need to ensure sufficient funding is...more
6/19/2018
/ Acquisitions ,
ASX Listing Rules ,
Australia ,
Australian Securities Exchange (ASX) ,
Canada ,
Disclosure Requirements ,
Mergers ,
Regulatory Agenda ,
Regulatory Standards ,
Safe Harbors ,
The Corporations Act
On 9 March 2018, an updated version of the Australian Securities Exchange's ("ASX") Guidance Note 8 came into effect to include guidance on a listed entity's continuous disclosure obligations in the context of the new...more
3/21/2018
/ Acquisitions ,
ASX Listing Rules ,
Australia ,
Australian Securities Exchange (ASX) ,
Disclosure Requirements ,
Guidance Update ,
Insolvency ,
Mergers ,
Regulatory Standards ,
Safe Harbors ,
The Corporations Act
The Australian government has secured the long-awaited support it needed from independent Senate cross-benchers to make sweeping changes to Australia's media ownership laws. ...more