Ordinance of the Swiss Financial Market Supervisory Authority on Financial Market Infrastructures and Market Conduct in Securities and Derivatives Trading

English is not an official language of the Swiss Confederation. This translation is provided for information purposes only and has no legal force.


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Art. 44 Indirect prior acquisition

(Art. 135 paras. 2-4 FMIA)

1If the pri­or ac­quis­i­tion was in­dir­ect with­in the mean­ing of Art­icle 32 in con­junc­tion with Art­icle 11 let­ter c, the party mak­ing the of­fer must dis­close the price paid for its share of the tar­get com­pany's equity se­cur­it­ies in the of­fer pro­spect­us.

2The valu­ation of this share must be audited by an audit firm.

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