Investor Presentaiton
Takeover bids
VOLUNTARY TAKEOVER BIDS
For joint-stock companies traded on the regulated market,
investors can make a public offer to the shareholders if the
bid allows them to gain control over the company.
OBLIGATORY TAKEOVER BIDS
An investor acquiring 30 percent or more voting rights in a
target company traded on the European regulated market
and thereby gaining factual control over the company, must
offer to buy out the other shareholders within 30 days of
the acquisition by submitting an obligatory takeover bid. An
obligatory takeover bid may be published only after it has
been approved by the CNB.
Obligatory takeover bids are also required if a company
decides to remove its shares from trading on the European
or other foreign regulated market, or changes the nature of
its shares or their transferability.
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