A Minimum bid price principle RG 163.3 The minimum bid price principle (s621(3)) says that under a takeover bid, the bidder must offer consideration at least equal to: (a) the maximum consideration that the bidder or an associate provided or agreed to provide for a bid class security (maximum consideration) (b) under any purchase or agreement during the four months before the date of the bid (pre-bid purchase). A pre-bid purchase extends to an arrangement or understanding: see the definition of “agreement” in s9. RG 163.4 For the purposes of the minimum bid price principle, the consideration offered or provided for a security is: (a) the amount of a cash sum; (b) the value of non-cash consideration; or (c) for mixed consideration, the cash sum and the value of the other consideration.
CNP Price at posting:
0.0¢ Sentiment: None Disclosure: Held