What conditions can be specified in an off-market takeover?
- A bidder under an off-market takeover makes identical offers to all security holders in a particular company.
- The takeover bid is often conditional on the waiver or satisfaction of a number of conditions. For example the bidder may be required to obtain a certain threshold of agreement from security holders. This may be 50% or 90% or another percentage. The bid may also be conditional upon obtaining regulatory approval from a regulatory body such as the Australian Competition and Consumer Commission (ACCC).
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