Useful links
Unit of study_
LAWS6008: Takeovers and Reconstructions Law
2026 unit information
This unit of study considers corporate control transactions focusing on the Australian law and regulatory policies governing ‘Takeovers’ under the Corporations Act 2001 (Cth) and those governing ‘Mergers’ under the Competition and Consumer Act 2010 (Cth). We examine the requirements for a successful acquisition by a bidder of the issued securities of a target company so as to achieve various levels of control ranging from 20% ownership to 100% ownership and the strategies for implementing particular control transactions and anticipated synergies. We consider regulated Takeover bids under Chapter 6 of the Corporations Act and the impact of Chapters 6A, 6B and 6C of the Act on the bid process as well as noting available alternatives to a regulated bid, including the Scheme of Arrangement and other legislative procedures such as selective reductions of capital and share buy-backs. We also view corporate control transactions from the perspective of the target company, considering the defensive measures available to it and how the law and regulatory policy impose constraints on the use of defensive strategies. Finally, we examine the prohibition under Part IV of the Competition and Consumer Act on Mergers that would result in a substantial lessening of competition in any market and the procedure for authorisations and notifications of proposed Mergers under Part VII of the Act. In considering these aspects, we review the respective roles of the Australian Securities and Investments Commission (ASIC) and the Takeovers Panel (ATP) as well as the Australian Competition and Consumer Commission (ACCC), the Foreign Investment Review Board (FIRB) and the Courts. Refer to the Sydney Law School timetable - https://canvas.sydney.edu.au/courses/4533/pages/postgraduate-lecture-timetable
Unit details and rules
Managing faculty or University school:
Sydney Law School
| Study level | Postgraduate |
|---|---|
| Academic unit | Law |
| Credit points | 6 |
|
Prerequisites:
?
|
None |
|---|---|
|
Corequisites:
?
|
None |
| Prohibitions:
?
|
None |
| Assumed knowledge:
?
|
None |
At the completion of this unit, you should be able to:
- LO1. Analyse and apply statutory, general law, regulatory and policy frameworks governing Australian corporate control transactions by way of Takeovers (Ch 6) and Schemes of Arrangement (Ch 5) under the Corporations Act 2001 (Cth) as well as assessing competition law implications (Pt IV) under the Competition and Consumer Act 2010 (Cth) while considering the functions and decisions of ASIC, the ACCC and the Takeovers Panel.
- LO2. Analyse complex corporate control scenarios and develop compliant strategic solutions to legal issues that arise in corporate control transactions from which to justify choices and identify alternatives.
- LO3. Examine how corporate control transactions are regulated and enforced so as to evaluate positions on transactional design and compliance to enhance effectiveness in achieving an optimal control change result.
- LO4. Communicate to diverse audiences the complex legal concepts and arguments used in effecting optimal corporate control transactions.
- LO5. Exercise autonomous professional judgement in selecting and applying corporate control transaction strategies that accommodate diverse stakeholder interests, limitations, and risk tolerance.
- LO6. Integrate ethical and legal considerations in the application of practice in corporate control transactions and takeovers law - including duties owed to clients, the market, and regulators - while justifying responses and outcomes in a manner consistent with professional responsibilities.
Unit availability
This section lists the session, attendance modes and locations the unit is available in. There is a unit outline for each of the unit availabilities, which gives you information about the unit including assessment details and a schedule of weekly activities.
The outline is published 2 weeks before the first day of teaching. You can look at previous outlines for a guide to the details of a unit.
Find your current year census dates
Modes of attendance (MoA)
This refers to the Mode of attendance (MoA) for the unit as it appears when you’re selecting your units in Sydney Student. Find more information about modes of attendance on our website.
Disclaimer
Important: the University of Sydney regularly reviews units of study and reserves the right to change the units of study available annually. To stay up to date on available study options, including unit of study details and availability, refer to the relevant handbook.
To help you understand common terms that we use at the University, we offer an online glossary.