In the Australian Securities Exchange (ASX), the target company is generally not liable for the cost of the takeover unless the parties involved have specifically agreed to such an arrangement in their acquisition agreement or unless there is a court order requiring the target company to pay for certain costs.
Typically, the cost of a takeover is borne by the acquiring company, which may include expenses such as legal fees, accounting fees, advisory fees, and other transaction costs. These costs can be significant, particularly in the case of a hostile takeover, where the target company may incur additional costs in defending against the takeover bid.
It is worth noting that the ASX Listing Rules require that the acquiring company provide sufficient details of any takeover offer or acquisition proposal to enable shareholders of the target company to make an informed decision. This includes disclosing any material terms of the acquisition, including any costs that may be borne by the target company. Ultimately, however, it is up to the parties involved to negotiate and agree on the allocation of costs associated with a takeover.