Swiss Steel Holding Ltd.: rejection of the appeal against the Swiss Takeover Board's decision of 5 March 2021
FINMA's Takeover and State Liability Committee rejects the appeal against the Swiss Takeover Board's decision 750/02 of 5 March 2021 regarding Swiss Steel Holding Ltd.
In its decision 750/02 of 5 March 2021 regarding Swiss Steel Holding Ltd. (formerly Schmolz+Bickenbach AG) the Swiss Takeover Board rejected a request from Liwet Holding Ltd. pursuant to which it was to be held that Martin Haefner / BigPoint Holding AG could not invoke the exception from the duty to make a public tender offer based on the decision of the Swiss Financial Market Supervisory Authority FINMA of 6 December 2019. Additionally, the Swiss Takeover Board made statements in its decision with respect to the minimal price of a potential public tender offer by Martin Haefner / BigPoint Holding AG (see Swiss Takeover Board's news of 8 March 2021).
Liwet Holding Ltd. has filed an appeal against this decision of the Takeover Board. FINMA's Takeover and State Liability Committee rejects the appeal in its ruling of 18 May 2021. An appeal against this ruling may be filed with the Federal Administrative Court.
