Hong Kong Arbs: (Largely) Immune From Trump Tariffs
In Aussie Arbs: Trump Tariffs And MACs, I ran a ruler over the fifteen live deals Down Under, and how they may be affected by the Trump Tariffs.
This insight canvasses the ongoing Hong Kong arbs and wording surrounding material adverse changes (MACs). Hong Kong MACs are typically less onerous, and lack specificity, versus Aussie arbs.
Although the framework exists for an Offeror to enforce a MAC, I'm not aware of any evidence of this occurring under Hong Kong's Takeovers Code.
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