Dear Reader, Welcome to the 15th edition of ICLG - Mergers & Acquisitions, published by Global Legal Group. This publication provides corporate counsel and international practitioners with comprehensive jurisdiction-by-jurisdiction guidance to mergers and acquisitions regulations around the world, and is also available at www.iclg.com. This year, two expert chapters provide an insight into global trends in M&A and the impact of the COVID-19 pandemic on M&A activity. The question and answer chapters, which in this edition cover 43 jurisdictions, provide detailed answers to common questions raised by professionals dealing with mergers and acquisitions. As always, this publication has been written by M&A lawyers and industry specialists, for whose invaluable contributions the editors and publishers are extremely grateful. Global Legal Group would also like to extend special thanks to contributing editors Lorenzo Corte and Scott C. Hopkins of Skadden, Arps, Slate, Meagher & Flom LLP for their leadership, support and expertise in bringing this project to fruition. Jon Martin Publisher Global Legal Group

Table of Contents:
Global M&A Trends in 2020, Skadden, Arps, Slate, Meagher & Flom LLP: Scott C. Hopkins, Adam Howard & Craig Kelly 1 M&A Lessons from the COVID Crisis, Wachtell, Lipton, Rosen & Katz: Adam O. Emmerich & Trevor S. Norwitz 4 Angola, Vieira de Almeida / ASP Advogados: Susana Almeida Brandao & Hugo Sipitali 9 Australia, Atanaskovic Hartnell: Lawson Jepps & Jia-Lee Lim 16 Austria, Schoenherr: Christian Herbst & Sascha Hoedl 24 Bermuda, MJM Limited: Jeremy Leese & Brian Holdipp 35 British Virgin Islands, Walkers: Patrick Ormond & Matthew Cowman 42 Bulgaria, Schoenherr (in cooperation with Advokatsko druzhestvo Stoyanov & Tsekova): Ilko Stoyanov & Katerina Kaloyanova 49 Canada, Blake, Cassels & Graydon LLP: Markus Viirland & Richard Turner 58 Cayman Islands, Maples Group: Nick Evans, Suzanne Correy & Louise Cowley 67 Cyprus, E&G Economides LLC: Virginia Adamidou & George Economides 74 Czech Republic, Wolf Theiss: Tereza Naucova & Michal Matous 81 Denmark, Bech-Bruun: Steen Jensen & David Moalem 89 Finland, Dittmar & Indrenius: Anders Carlberg & Jan Ollila 96 Greece, Rokas: Viktoria Chatzara & Kosmas Karanikolas 104 Hong Kong, de Bedin & Lee LLP: Claudio de Bedin & Helen Morris 112 Hungary, Oppenheim Law Firm: Jozsef Bulcsu & Mihaly Barcza 120 Iceland, BBA//Fjeldco: Stefan Reykjalin 127 India, Shardul Amarchand Mangaldas & Co: Raghubir Menon, Sakshi Mehra & Dipayan Bhattacherjee 134 Indonesia, Walalangi & Partners (in association with Nishimura & Asahi): Miriam Andreta & Siti Kemala Nuraida 143 Ireland, Philip Lee: John Given & Andreas McConnell 149 Israel, APM & Co.: Ian Rostowsky, Stephen Barak Rozen & Elinor Polak 157 Italy, NUNZIANTE MAGRONE: Fiorella Alvino & Fabio Liguori 165 Japan, Nishimura & Asahi: Tomohiro Takagi & Keiichiro Yamanaka 172 Luxembourg, GSK Stockmann: Marcus Peter & Kate Yu Rao 181 Madagascar, Lexel Juridique & Fiscal: Tafita Ratsimba 187 Malta, DF Advocates: Dr. Maria Paloma Deguara & Celia Mifsud 192 Mauritius, LEGIS and Partners Ltd: Bertrand Betsy, Caroline Samy & Zahraa Auchoybur 200 Montenegro, Moravcevic Vojnovic and Partners in cooperation with Schoenherr: Slaven Moravcevic & Milos Lakovic 209 Mozambique, Vieira de Almeida / GDA Advogados: Guilherme Daniel & Susana Almeida Brandao 217 Netherlands, Houthoff: Alexander J. Kaarls & Willem J.T. Liedenbaum 224 Nigeria, DealHQ Partners: Orinari Jeremy Horsfall & Adefere Adeyemo 233 Norway, Aabo-Evensen & Co Advokatfirma: Ole Kristian Aabo-Evensen 240 Poland, WBW Weremczuk Bobel & Partners Attorneys at Law: Lukasz Bobel 255 Portugal, Vieira de Almeida: Jorge Bleck & Domingos Freire de Andrade 262 Serbia, Moravcevic Vojnovic and Partners in cooperation with Schoenherr: Matija Vojnovic & Vojimir Kurtic 270 Slovakia, URBAN STEINECKER GASPEREC BOSANSKY: Marian Bosansky & Juraj Steinecker 278 Slovenia, Schoenherr: Vid Kobe & Bojan Brezan 284 South Africa, Bowman Gilfillan Inc.: Ezra Davids & Ryan Kitcat 295 Spain, Roca Junyent SLP: Natalia Marti Pico & Xavier Costa 303 Switzerland, Bar & Karrer Ltd.: Dr. Mariel Hoch 310 Taiwan,Lee and Li, Attorneys-At-Law: James Huang & Eddie Hsiung 318 Turkey, Cektir Law Firm: Berk Cektir & Ugur Karacabey 325 United Kingdom, Hogan Lovells: Ben Higson, Sarah Shaw, John Connell & John Holme 334 USA, Skadden, Arps, Slate, Meagher & Flom LLP: Ann Beth Stebbins & Thad Hartmann 342