Legislature greenlights Fair Trade Act amendment in regard to hostile takeover

　On May 26, 2017, Taiwan Legislature passed the third reading of the amendment to Article 11 of the Fair Trade Act with respect to hostile takeover.  This amendment extends the time period for Fair Trade Commission’s examination on proposed merger filings from 30 days to 30 working days, so as to avoid affecting examination impartiality as a result of examination period shortened by long weekend or any other factors. 

　In addition, according to this amendment, the Fair Trade Commission may seek outside opinions with respect to any proposed merger filing and may also request for industrial economic analysis on the filing to be provided by academic research institutions when necessary.  Moreover, where any enterprise in a merger does not agree to the proposed merger, the Fair Trade Commission should provide the filing enterprise’s cause for merger to the said enterprise to seek opinions thereof.  (May 2017)
/CCS