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In this context, the board of the goal firm is required to make selections of the identical nature, in any other case there is not any valid and binding M&A course of.<br>The shareholders of the assignee company hold their partnership position within the transferee company within certain alteration ratios. Nevertheless, according to Article 141 of the TCC under the caption "quit reserve’, there's an exception to this rule. The transferee employer must also notify the basic public authorities (e.g., the provincial directorate of the Ministry of Labor and Social Security and the Social Security Institution) of the office transfer. Turkish legislation provides no particular rule on the purchase of other lessons of target securities. In addition, if the transferor employer is a party to a collective bargaining agreement, such collective bargaining agreement will proceed to be efficient till a model new collective bargaining settlement is executed by the transferee employer. 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