On 16 June 2026, the Stock Market Self-Regulation Committee (ASK) published the revised Takeover Rules for regulated markets and certain trading platforms. The revised rules enters into force on 1 September 2026.
The revision primarily introduces an obligation for offerors of a target company listed on a trading venue (MTF) to undertake, vis-à-vis the relevant marketplace, to comply with ASK’s Takeover Rules, as well as certain related amendments. Among other things, certain obligations are imposed on the target company’s board of directors in connection with such an undertaking by the offeror. In addition, certain editorial changes have been made.
The new rules have been drafted by a working group consisting of the Director of the Swedish Securities Council, Adjunct Professor Rolf Skog, and Supreme Court judge, Erik Sjöman, with the support of the ASK´s Secretary, Erik Lidman, in close consultation with a broadly composed reference group.
The adopted proposal for takeover rules is also available in an annotated version showing changes compared with the 2025 rules.
Takeover rules for regulated markets
Takeover Rules for Regulated Markets 2026-09-01
Takeover Rules for Regulated Markets 2026-09-01 – mark-up
Takeover rules for certain trading platforms
Takeover rules for certain trading platforms 2026-09-01
Takeover rules for certain trading platforms 2026-09-01 – mark-up