Is anybody able to comment on the way in which a takeover offer would work?
My understanding is that the offer is made at a certain price per share, a recommendation is given by the BOD (let's say to accept) and then it is put to the shareholders.
What is the level of acceptance that would be needed for it to be effective? 50% ordinary resolution? 75% special resolution? 90% to be able to effect a compulsory acquisition?
If it only requires an ordinary or special resolution, what happens to the shares of those who do not wish to accept the offer?
Thanks in advance.
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Mkt cap ! $85.43M | |||
| Open | High | Low | Value | Volume |
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Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 29 | 17348571 | 1.0¢ |
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| Price($) | Vol. | No. |
|---|---|---|
| 1.1¢ | 4952520 | 6 |
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