Keywords
competition law, changes in competition law, merger control, convertible bonds, hybrid instruments
Abstract
This article focuses on the important legal requirement to notify a merger imposed upon the holders of convertible bonds by the Act of 29 June 1995 on Bonds and the Act of 16 February 2007 on Competition and Consumer Protection. Literature has not yet considered administrative obligations resulting from merger control rules based on the execution of the conversion right incorporated in such bonds. With the spread and increasing popularity of convertible bonds, it is to be expected however that a properly determined timeframe for a merger notification (to the President of the Office of Competition and Consumer Protection), as well as the consequences of a failure to notify, may be of importance to holders of convertible bonds. Considered first in the article is the legal and economic characteristics of convertible bonds. Identified next is the source of the duty placed on convertible bondholders to notify a merger. Finally, the article examines the applicable legal solutions from the point of view of the “practical” aspects of the conversion of such bonds carried by their holders.
Recommended Citation
Syp, S. (2014). When to notify? Selected legal issues concerning holders of convertible bonds from the perspective of merger control rules. internetowy Kwartalnik Antymonopolowy i Regulacyjny (internet Quarterly on Antitrust and Regulation), 3(1), 32-45. Retrieved from https://press.wz.uw.edu.pl/ikar/vol3/iss1/3
First Page
32
Last Page
45
Page Count
13
Publisher
University of Warsaw
