Legal briefing

New Securities Market Law: developments concerning takeover bids


This Legal Briefing analyses the main developments in the SML relating to takeover bids.

Law 6/2023, of 17 March, on Securities Markets and Investment Services (the “SML”), constitutes the new framework law for the Spanish securities markets, repealing Royal Legislative Decree 4/2015, of 23 October, approving the consolidated text of the Securities Market Law.

The SML introduces important developments in a wide range of areas, which we already mentioned briefly in the Legal Briefing we published when it began its passage through parliament. Given their significance, we consider it important to carry out a detailed analysis of each development.

For this reason, over the next few days, specialists from various branches of securities markets law at Pérez-Llorca will publish various Legal Briefings which will analyse in detail the most relevant aspects of the new SML.

We begin this series of Legal Briefings by analysing the main developments in the SML relating to takeover bids.

The full content of this Legal Briefing can be found in the PDF.



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OPA securities market

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