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South Korean financial regulator to ease regulations to support mergers, acquisitions

( May 9, 2023, 03:00 GMT | Official Statement) -- MLex Summary: The South Korean government announced plans to dramatically enhance merger and acquisition regulations and boost corporate restructuring support. The plans unveiled by the Financial Services Commission include measures to accept loan commitments by reliable financial institutions or commitment letters by major investors as proof that companies have secured funding for a public tender offer to purchase shares. The regulator said it will also consider ways to suspend the timing of mandatory tender offers for companies subject to both the forthcoming mandatory tender offer rule as well as a merger notification and that it will run investment or loan programs and provide advice and consulting to local companies to help them acquire foreign companies in future strategic sectors. The regulator said it plans to make necessary legislative changes in order to put the measures into effect as soon as possible.The regulator's statement, in Korean, is attached....

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