By Dipo Olowookere About 120 merger related transactions were approved in the last three years by the Securities & Exchange Commission (SEC). This information was revealed by the acting Director General of the apex regulatory agency in the Nigerian capital market, Ms Mary Uduk. According to her, \u201cWe are determined to ensure that every shareholder is fairly, equitably and similarly treated and given sufficient information regarding transactions in the capital market.\u201d She said at an average of 40 merger related transactions every year, the nature and structure of business dealings and transactions varied in line with the objectives of the transacting entities and operational sectors. \u201cWe had mergers by amalgamation, acquisition of assets only, acquisition of economic rights, MBOs, carve-outs, spin-offs and split-offs, amongst others,\u201d the SEC boss explained. The DG noted that the primary challenge with respect to merger related transactions was the determination of what transaction was modifiable. Ms Uduk made these remarks at the first Annual Seminar of the Committee on Mergers, Acquisitions and Reorganisations of the Nigerian Bar Association (NBA) section on Business Law in Lagos on Thursday. She disclosed that apart from categorising the transactions into small, intermediate and large mergers, the Investment & Securities Act (ISA) gives the commission the latitude to review the specified thresholds done to ensure regulation properly targeted at transactions with significant economic impact. Ms Uduk assured that her agency will continue to give level playing field to every stakeholder in the capital market.