Here, the Stock Market Self-Regulation Committee’s (ASK) takeover rules are presented, both for regulated markets and for certain trading platforms.
On June 16, 2026, the ASK published revised takeover rules, which will take effect 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 were drafted by a working group consisting of the Director of the Swedish Securities Council, Adjunct Professor Rolf Skog, and Justice Erik Sjöman, with the support of the Swedish Securities Council’s Secretary, Erik Lidman, in close consultation with a broadly composed reference group.
Below, you will find the 2025 rules and the new, revised rules that will take effect on September 1, 2026. A version that highlights the changes is available under the "History" tab on the right.
Rules for regulated markets
By law1, a stock exchange is to have rules for public takeover bids for stocks traded on a regulated market. The rules must meet the requirements set out in the Takeover Directive2 and be otherwise appropriate.
Takeover rules for regulated markets 2025-07-01
Takeover rules for regulated markets 2026-09-01
Rules for certain trading platforms
The Board has issued takeover rules for Swedish companies whose stocks are traded on the Nasdaq First North Growth Market, Nordic SME and Spotlight Stock Market trading platforms. In the main, they correspond to the rules for public takeover bids for companies whose stocks are traded on a regulated market.
Takeover rules for certain trading platforms 2025-07-01
Takeover rules for certain trading platforms 2026-09-01
[1] 13 kap. 8 § (2007:528)
[2] (2004/25/EG)