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The Llegal practice of corporate takeover and mandatorytender offer (MTO) in the indonesian capital market / Yozua Makes

Yozua Makes; (Makes and Partners, 2014)

 Abstrak

The number of takeover transactions is relatively less compared to other corporate actions by
publicly-listed companies, (e.g. IPOs, rights issues, or material transactions). There is no research
that explains or contextualizes this fact, but one may speculate that this may be due to (a) the existence
of block-holders in Indonesia’s corporate structure profile (structural barrier) or (b) because it
is costly to carry out a takeover in light of the existing Mandatory Tender Offer (MTO) requirements
(legal barrier). This article focuses on the latter problem, aiming to address the practical and legal
issues pertaining to takeover transactions in Indonesia with respect to the existence of the MTO.
Pursuant to the prevailing rule, in a takeover of publicly-listed companies that results in a change of
control, a MTO/mandatory bid requirement must be followed with the potential acquirer making an
offer to purchase all of the remaining shares of the target company according to a certain minimum
price formula. Specifically the article discusses practical and creative strategies that prospective
controllers employ to avoid the mandatory bid/MTO requirement, and how these strategies impact
the principle of minority shareholders’ protection..

 Metadata

No. Panggil : PDF
Entri utama-Nama orang :
Subjek :
Penerbitan : [Place of publication not identified]: Makes and Partners, 2014
Sumber Pengatalogan : LibUI eng rda
ISSN : 23563818
Majalah/Jurnal : Indonesian Capital Market Review
Volume : Vol No 2 July 2014 73-84
Tipe Konten : text
Tipe Media : computer
Tipe Carrier : online resource
Akses Elektronik : http://journal.ui.ac.id/index.php/icmr/article/view/3589
Institusi Pemilik : Universitas Indonesia
Lokasi :
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