The UK Mergers and Acquisitions Commission said on Monday that it proposed to adjust its own regulatory approach to mergers and acquisitions in view of Britain's decision to withdraw from the EU.
The Merger and Acquisition Commission plans to abolish the rules governing companies with common jurisdiction after Britain's withdrawal from the EU, which means that some of the acquisition offers may no longer apply to Britain's tightly regulated merger and acquisition system.
According to the plan, some companies are registered in a member country of the European Economic Area (EEA), but securities transactions are not conducted in that country but in the United Kingdom. The acquisition offers made by such enterprises will no longer be subject to the merger and Acquisition Law of the United Kingdom.
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If an enterprise has a registered office in the United Kingdom, but securities are traded in countries outside the European Economic Area, if it does not meet the residence requirements, its acquisition offer will no longer be subject to the provisions of the Commission.
The watchdog said the consultation period for the above proposals would last until December 17th.
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