The legal system for creating a public offer of purchase with the intention of acquiring commercial companies (Comparative study)

Abstract

The research represents an attempt to study and analyze the legal rules governing the creation of a public offer of purchase with the intention of acquiring commercial companies in UAE law. In light of the UAE’s interest in acquisitions as a means of restructuring the faltering economic project; and after the issuance of Resolution 18/R. AD for the year 2017 on the Chairman of the Board of Directors of the Securities and Commodities Authority, regarding the rules of acquisition and merger of public joint stock companies, and Administrative Resolution No. (62/R.T) of 2017 regarding the technical requirements of the acquisition and merger system. The research presented the legal rules surrounding the process of creating a public offer for purchase with the intention of acquisition in three frameworks; The conceptual framework, the structural framework and the framework for protecting the persons involved in the acquisition of the target company. This is for the purpose of providing a vision that helps the UAE legislator to better reorganize some rules related to the subject of the public offer of purchase; especially since the comparison is made in light of the English law, which is one of the oldest legislation regulating the provisions of (Takeover) and the most advanced in the world.