THE LEGAL REGIME FOR MERGERS AND ACQUISITIONS: A COMPARISON OF THE NIGERIAN AND GERMAN FRAMEWORKS

Abstract

The prime objective of any company within and outside the Nigeria sphere is growth in the presence of tough competition and reduction of barriers in the way new companies and businesses are floated. It is this strong desire for growth as an imperative for survival that has birthed Mergers and Acquisitions as a preferred route. Mergers and Acquisitions have found its way into the Corporate and Commercial sector of countries the world over. This paper sets out to examine legal regime and frameworks of Mergers and Acquisitions particularly as it affects the Nigerian and German Corporate and Commercial Sectors. In examining the legal regime and frameworks, this paper seeks to define Mergers and Acquisitions; State the rationale for Mergers and Acquisitions; The objective of the Investment And Securities Act( looking at the provisions of the Federal Competition and Consumer Protection Act 2019 which repealed certain provisions of ISA),the Security And Exchange Commission Rules and Regulations 2013 and the Company and Allied Matters Act as it pertains to Mergers and Acquisitions ;Types of Mergers and the principles governing them in Nigeria ,Comparing the German Framework and Legal Regime with that of Nigeria. This paper also makes recommendations for Mergers and Acquisitions in line with international best practices.