One of the objectives of the Securities Regulation Code on Takeovers and Mergers ("the
Code") was to achieve neutrality of treatment of minority shareholders in takeover situations
irrespective of the method employed to effect the takeover. This objective has not yet been
achieved despite the inclusion of Rule 29 in the Code. Different levels of minority protection
apply depending on the method used to effect a takeover. Asset takeovers are also
excluded from the ambit of the Code. It is suggested that capital reductions and security
conversions be prohibited to effect a takeover unless the Code is applicable to the
transaction. The scheme of arrangement procedure, with certain suggested amendments,
should be retained as a takeover method. It is further suggested that section 228 of the
Companies Act be amended to ensure greater minority shareholder protection but that
asset takeovers not be included within the ambit of the Code at this stage. / Private Law / LL.M.
| Identifer | oai:union.ndltd.org:netd.ac.za/oai:union.ndltd.org:unisa/oai:umkn-dsp01.int.unisa.ac.za:10500/15684 |
| Date | 11 1900 |
| Creators | Oberholzer, Cornelius Christiaan |
| Contributors | Luiz, S. M. |
| Source Sets | South African National ETD Portal |
| Language | English |
| Detected Language | English |
| Type | Dissertation |
| Format | 1 online resource (4 unnumbered leaves, 81 leaves) |
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