Other Industries

22 May 2015

China's State Council has issued plans for three new Pilot Free Trade Zones in Guangdong, Tianjin and Fujian, and the expansion of its Shanghai Pilot Free Trade Zone. It also updated its foreign investment negative list and announced trial procedures for national security review of foreign investment in all free trade zones.  The expansion of China’s free trade zone program is set to advance the country’s financial reform journey and improve its ability to compete with more established rivals in the Asia-Pacific region.

17 April 2014

In this edition of Higher Education Focus, we look at:

  • Changes to GST a welcome development for education institutions?
  • Universities face new reporting requirements to promote gender equality
  • Proposed changes to the 'in Australia' condition for tax concessions - what do they mean for the higher education sector?

10 July 2013

An interesting development is the emergence of so-called 'disposal' or 'reverse' standstills, which restrict parties from disposing of their existing shareholding in the target (or the acquirer) for a set period. They can potentially assist in encouraging a prospective bidder to submit its best offer for the target and reduce the risk of unsatisfactory shareholding blocs emerging - meaning we could see them increasingly employed within the Australian market.

10 July 2013

The World Oil and Touch Holdings decisions serve as a reminder that the Takeovers Panel is increasingly willing to see through unconvincing rebuttals of association and will make a declaration of unacceptable circumstances and remedial orders, if the necessary proof of an undisclosed association can be presented.

10 July 2013

The first court decision applying the cartel provisions of the Competition and Consumer Act 2010 has set the bar for establishing per se liability worryingly low. Significantly for M&A practitioners, the case calls into question the traditional risk assessment of 'back to back' or 'partial follow on' transactions from a bid-rigging perspective, including those that occur offshore. With an appeal by Bradken lodged in April, it seems 'at least possible' the Federal Court will revisit the low bar applied to satisfaction of the competition condition in this case - and the outcome will be one to watch.