A regulatory body in the middle of finalising a definition that is pertinent to mergers and acquisitions recently held consultations with lawyers. Interestingly, the regulator decided to give the definition proposed by one lawyer to another one for analysis. At the end of this exercise, no two lawyers agreed on one definition, with every definition proposed over a full-day session being rejected. At the end, the regulator observed that lawyers could be depended on to find loopholes in regulation, not to frame one.
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