An on-market or off-market T/O involving a Direct Offer to targeted shareholders requires the Bidder to achieve control of at least 90% of Target securities to reach compulsory acquisition.
Compulsory acquisition via a ‘friendly’ Scheme-of-Arrangement, in which the boards of both Bidder and Target cooperate, requires the Bidder to gain control of at least 75% of Target securities as well as the voting approval of at least 50% of Target shareholders.
The fully detailed Takeovers Guide Australia is very informative and worth the time to read.
Ann: 2023 Annual Report to shareholders, page-194
-
- There are more pages in this discussion • 1 more message in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Add NEU (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
$16.15 |
Change
-0.940(5.50%) |
Mkt cap ! $2.064B | |||
| Open | High | Low | Value | Volume |
| $15.04 | $16.33 | $14.65 | $25.91M | 1.638M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 125 | $16.15 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $16.20 | 1500 | 1 |
View Market Depth
| Last trade - 16.10pm 09/08/2024 (20 minute delay) ? |
| NEU (ASX) Chart |