Étiqueté : tender offer bid

Discussion Paper Series 2016 #05 : « The impact of changes in Japanese tender offer regulations on bidder behavior and shareholder gains »

Japanese regulators have undertaken several adjustments to the rules governing the market for corporate control beginning with the 1990 introduction of mandatory bid rules (MBR) for tender offers. However, the adoption of an MBR alone did not initially contribute to an active tender offer market, nor did it adequately protect targets’ minority shareholders.