The Lawyer’s new China Elite report contains the most detailed research available on the PRC legal market and contains unparalleled insight into the country's leading law firms. They vary in size, practice focus and geographic coverage, but they all share one common quality – ambition... Read more
This year, The Lawyer’s annual ranking of the largest UK law firms by turnover is available as an interactive, digital benchmarking tool. For the first time this will allow you to manipulate each data set against the metrics of your choice.
The China Securities Regulatory Commission (CSRC) last week finalised the regulations governing mergers and acquisitions of domestic-listed companies
The move has been welcomed by corporate lawyers in the region as they think this will increase the flow of M&A deals in China. Nicholas Howson, a partner at US firm Paul Weiss Rifkind Wharton & Garrison's Beijing office, said: "The new regulations are welcomed by Chinese and international lawyers practising in China. They will result in more public M&A activity. With these provisions, acquirers and insiders - including directors and management - are able to understand procedures, duties and mechanics of proposed takeovers concerning companies that have a portion of their share capital listed. This should translate into increased involvement by legal professionals and opportunities to advise on how players should proceed and conform to their newly-described duties under the law." The new regulations, which Freshfields and other overseas law firms helped to draft, will come into effect on 1 December. They aim to ease restrictions on private investors buying into listed companies, allowing cash-rich and private investors to take over listed companies that are predominantly state-owned. Howson said: "The new regulations elaborate key aspects of China's securities law, such as the 30 per cent mandatory offer provisions. For example, the new regulations provide guidance on disclosure, take-over/acquisition procedures, fairness opinions, and valuation requirements among others. All of which are key aspects of developing the public M&A regime."