Combining business of public companies listed on the Egyptian Exchange (EGX) may take place through asset-based or share-based acquisitions or merger between the businesses.

The Egyptian Capital Market Law No. 95/1992 (and its Executive Regulations) (CML) allows acquisition of listed shares through open market transactions, block trades, protected transactions or voluntary tender offer, subject to acquiring less than one third of the issued share capital or voting rights of listed shares. If the acquired stake exceeds one third of the issued share capital or voting rights of a listed company, whether directly or indirectly, a mandatory tender offer should be submitted to acquire 100 per cent of the listed company's issued share capital. Exemptions from this mandatory tender offer may be granted by the Financial Regulatory Authority (FRA) in certain specific situations.

Businesses may also be combined through merger. Merger does not trigger a mandatory tender offer subject to submitting a notification to the FRA of the same.