LAPEu00d1A 2190307 SRC-ACTIVITY1(1).docx - LAPEu00d1A...

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LAPE Ñ A, Fabianne M. (2190307) 21 September 2020 BSAc-3 MWF 6:00 - 7:00 AE312-1251 I. CASE STUDY: A. Lotte Chilsung Beverage Co.Ltd. should make a mandatory tender offer, since it intends to acquire shares that would result in ownership of more than fifty percent (50%) of the equity shares of a public company. However, the proposed deal could be subjected to customary closing conditions, including securing approvals from the Philippines SEC and Philippine Competition Commission. This is because the potential purchase of shares could raise Lotte's stake to 96.66% and reduce the public float to below the 10% required by the Philippine Stock Exchange, which could lead to Pepsi Cola Products Philippines lnc. ’s involuntary delisting from the local bourse. But still Lotte may request for exemptive relief. B. In order to make the acquisition valid, Lotte must comply with the requirements given by SEC to gain its approval, which was subject to the following conditions: The tender offer will remain open until ten days from the disclosure of the Philippine Competition Commission (PCC) decision on the transaction; The bidder, through PCPPI, shall disclose to the Philippine Stock

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