https://www.theaustralian.com.au/business/companies/asic-warns-of-takeover-bonuses/news-story/93672a964cd1aca3d6d02b75e1c3abfaFood for thought ?
" ASIC has warned directors to put shareholders before bonusesMmmmm, I DO have to say, I did wonder in the case of Shell offering for EPW; why a Scheme of Arrangement?The corporate regulator has put company directors on notice over their conduct in mergers and acquisitions, warning that it is watching closely for any action that could undermine the integrity of the takeover process as well as any potential or perceived conflicts of interest."
" Most of ASIC’s regulatory interventions in takeovers over the six months through June related to schemes of arrangement, the corporate cop said in Monday’s report, revealing that on four occasions it was forced to either withhold no-objection letters or intervene to oppose approval.On two other occasions it attended court and provided a no-objection letter after hearing and considering the objections."
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