RG 25 Takeovers: False and misleading statements
Reissued 22 August 2002
Previous version: Superseded Policy Statement 25 [SPS 25] (superseded 22 August 2002)
This regulatory guide addresses the issue of ‘truth in takeovers’. It is for the guidance of market participants (bidders, targets and substantial holders) making public statements during takeover bids. Our policy considers statements that:
- in our experience are commonly made in the course of takeover bids, and
- may be misleading or deceptive.