Foss sets rules for low-ball offers from next month

Thu, 01 Nov 2012

Nov. 2 (BusinessDesk) - Commerce Minister Craig Foss has introduced new regulations to keep a lid on low-ball offers for stocks, bonds and other securities starting from next month. The regulations come into force from Dec. 1 and will govern how unsolicited offers to investors can be made, including stricter disclosure requirements and imposing minimum offer and cancellation periods, Foss said in a statement. The new rules come a year-and-a-half after Parliament's commerce committee recommended granting the Financial Markets Authority powers...

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