Technology M&A 2025

PARAGUAY CONTENTS

6.7 Minimum Acceptance Conditions p.258 6.8 Squeeze-Out Mechanisms p.258 6.9 Requirement to Have Certain Funds/Financing to Launch a Takeover Offer p.258 6.10 Types of Deal Protection Measures p.258 6.11 Additional Governance Rights p.258 6.12 Irrevocable Commitments p.259 6.13 Securities Regulator’s or Stock Exchange Process p.259 6.14 Timing of the Takeover Offer p.259

7. Overview of Regulatory Requirements p.259 7.1 Regulations Applicable to a Technology Company p.259 7.2 Primary Securities Market Regulators p.259 7.3 Restrictions on Foreign Investments p.259 7.4 National Security Review/Export Control p.259 7.5 Antitrust Regulations p.260 7.6 Labour Law Regulations p.260 7.7 Currency Control/Central Bank Approval p.260 8. Recent Legal Developments p.261 8.1 Significant Court Decisions or Legal Developments p.261 9. Due Diligence/Data Privacy p.261 9.1 Technology Company Due Diligence p.261

9.2 Data Privacy p.261 10. Disclosure p.262 10.1 Making a Bid Public p.262 10.2 Prospectus Requirements p.262 10.3 Producing Financial Statements p.262 10.4 Disclosure of Transaction Documents p.262 11. Duties of Directors p.262 11.1 Principal Directors’ Duties p.262 11.2 Special or Ad Hoc Committees p.262 11.3 Board’s Role p.262 11.4 Independent Outside Advice p.263

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