Polish financial market regulator KNF wants investors that cross the 50% shareholding mark in a firm to be forced to announce a tender offer for remaining firms, KNF said in a statement on a legislative proposal sent to the Finance Ministry.
According to the proposal, Poland would give up from other thresholds for mandatory offers.
Investors will be offered the possibility of announcing a voluntary tender offer: if they cross the 50% mark as a result of such voluntary tender offer, they would be free from obligation to launch the mandatory one.
KNF also want auditors to check purchase prices in indirect takeovers to avoid pricing ambiguities for mandatory tender offers.
