truenorth. Taken from...

truenorth.

Taken from http://www.nortonrosefulbright.com/...-bids-for-aim-companies-what-you-need-to-know

• an obligation (subject to certain limited exceptions) to make a mandatory cash offer for the remaining shares of the company where a person (together with their concert parties): (i) acquires an interest in shares which carry 30 per cent or more of the voting rights of a company or (ii) holds an interest in shares which carry between 30 and 50 per cent of the voting rights and makes a further acquisition of an interest in shares;
• an obligation to pay a minimum price under an offer where interests in shares have been acquired during certain periods prior to the making of any offer; and
• an obligation to offer a particular type of consideration (cash or shares) in certain circumstances.