On August 31, 2023, METI released Guidelines on Corporate Takeovers to enhance corporate value and protect shareholder interests. The guidelines address issues of transparency, fiduciary responsibility, outside director oversight, process, and defense tactics. This event reviewed the basic principles of the guidelines and we held a discussion on what to do in various scenarios.  Specifically, this event covered: 

• When does the CEO need to tell the board about a takeover offer?

• When should the board set up a special committee?

• When should the board retain its own counsel?

• What happens when the CEO is made a special offer by the acquiring firm?

Speakers

Ken King, Partner, Skadden

Sakka Kobayashi, Partner, Nishimura & Asahi

Sponsors

Skadden

Nishimura & Asahi

Event Resources

Event recording (English with Japanese captions)

Presentation (EN)

METI Guidelines for Corporate Takeovers