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ARTICLE · 07 JULY 2021

Mandatory Tenders Offers

Pekin Bayar Mizrahi (in alliance with Norton Rose Fulbright)
Explore more from Pekin Bayar Mizrahi (in alliance with Norton Rose Fulbright)

On 1 February 2021, the Capital Market Board made an announcement with respect to the proposed amendments to the Communiqué on Tender Offers No. II-26.1 ("Communiqué No. II-26.1")...

TurkeyCorporate/Commercial Law
Ergin Mizrahi
Ergin Mizrahi
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On 1 February 2021, the Capital Market Board made an announcement with respect to the proposed amendments to the Communiqué on Tender Offers No. II-26.1 ("Communiqué No. II-26.1") and published the draft of the Communiqué Regarding the Amendments to the Communiqué on Tender Offers No. II-26.1 ("Draft Amendment to the Communiqué No. II-26.1") on its official website.

The main amendments proposed under the Draft Amendment to the Communiqué No. II-26.1 are the determination of the offer price; exceptions and exemptions applicable to the tender offer; the liability arising from the tender offer information form and the scope of brokerage contracts.

1. Certain principles on the determination of (i) the shareholders who may benefit from mandatory tender offer and (ii) the share values are regulated:

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