The Swiss Takeover Board has rejected applications by Martin Haefner/BigPoint Holding AG and Liwet Holding AG for a restructuring exemption from the duty to make a tender offer in connection with the planned capital increase of Schmolz+Bickenbach AG.
So far, Schmolz+Bickenbach AG and Martin Haefner/BigPoint Holding AG have filed appeals against this decision.
FINMA's Takeover and State Liability Committee is examining the appeals and is expected to publish its decision by Monday, December 9, 2019, before the start of trading.
