US reporting companies that are planning or have completed a significant acquisition of a business may be required to file separate target financial statements and related pro forma financial statements under Rule 3-05 and Article 11 of Regulation S-X. The specific US Securities and Exchange Commission rules and financial reporting obligations triggered by a significant
Legal Update: SEC Amends Business Acquisition and Disposition Disclosure Rules
On May 21, 2020, the US Securities and Exchange Commission (SEC) adopted amendments (Amended Rules) to financial statement disclosures with respect to business acquisitions and dispositions required by Regulation S-X’s Rule 3-05 (Financial Statements of Businesses Acquired or to be Acquired), Rule 3-14 (Special Instructions for Real Estate Operations to be Acquired),…
SEC Adopts Amendments to Disclosure Requirements Related to Acquisitions
By Anna T. Pinedo on
Not deterred by the pandemic, the Securities and Exchange Commission seems to be continuing its work tackling the items on the regulatory agenda. Today, the SEC announced that adopted amendments to its requirements related to disclosures for acquisitions and dispositions. We had previously blogged and written about these proposals.
The amendments affect Regulation S-X, including…
Legal Update: Novel Coronavirus (COVID-19): Considerations in M&A Due Diligence
With the advent of the COVID-19 pandemic, there are numerous issues to contemplate in M&A due diligence. For one, parties in an M&A transaction need to consider whether the target company has established sufficient protocols to enable due diligence to be conducted entirely virtually. In this Legal Update, we provide a summary of many of…