The Australian government approved legislation to tighten rules preventing foreign investors from using complex takeover arragements to bypass relevant laws to gain control of an Australian company. The changes, approved yesterday, mean financial instruments such as convertible bonds will be treated as equity in considering whether a complex financing arrangement is being used to deliver influence or control over an Australian company, either currently or in the future.
The Australian – Parliament approves legislation to tighten laws on takeovers by foreign investors