Saudi Stock Exchange (Tadawul): An Announcement Of Publishing The Draft Of Updated Mergers And Acquisition Regulations For Public Consultation

Pursuant to the Capital Market Authority's role in developing and regulating the capital market, and to its endeavors to make the capital market more stable, in line with the National Transformation Program and Saudi Arabia’s Vision 2030, and based on the Capital Market Law issued by the Royal Decree Number (M/30) Dated 2/06/1424H, the CMA Board has issued its Resolution on publishing the draft of the updated Mergers and Acquisition Regulations seeking the comments and observations of the public, the concerned and the interested thereon, until  28/8/1438H corresponding to  24/5/2017G.
 It is worth mentioning the draft regulations aims to regulate mergers and acquisitions. This includes regulating mergers through the general assembly, offering proposals, mandatory and permissive offers and disclosure requirements, as well as demonstrating the timetables of these transactions, , Also a Provisions on Reverse Takeover and Demergers.