The Capital Markets (Public Offers, Listings and Disclosures) Regulations, 2023
46. Multiple concurrent acquisitions or mergers
46. Multiple concurrent acquisitions or mergers
Where the special purpose acquisition company concludes multiple concurrent acquisitions or mergers as part of the business combination, there must be at least one initial acquisition which satisfies the requirement of having a fair market value constituting at least eighty per cent of the amount held in the escrow account at the time of entry into the binding agreements for the business combination transactions, and such concurrent transactions must be inter-conditional and completed simultaneously within the permitted time frame.Source: Kenya Law