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State revises firms’ hostile buyout law
Nairobi Securities Exchange. Minority shareholders may be set for a reprieve after the State made a U-turn on the law that had made it easier for top owners to compulsorily acquire minority investors and delist firms. FILE PHOTO | NMG
Minority shareholders may be set for a reprieve after the State made a U-turn on the law that had made it easier for top owners to compulsorily acquire minority investors and delist firms from the Nairobi Securities Exchange (NSE) #ticker:NSE.
The proposed law, known as Business Laws (Amendment) Bill, 2019, seeks to restore the upper limit of an investors owning at least 90 percent of a firm’s shares to forcibly acquire minority investors.
