Factor in the 20% rule and TO is definitely viable.
Australian takeover laws are set out in the Corporations Act, primarily Chapter 6.These are designed to further three main takeover principles:the acquisition of control takes place in an efficient, competitive and informed market;target shareholders have a reasonable time to consider a control proposal and know the identity of the proponent, andtarget shareholders are all treated equally under any control proposal.
20% ruleThe '20% rule' or 'general prohibition' is the first basic concept and the most important.The 20% rule provides that a person cannot acquire voting securities if that acquisition would result in that person's, or any other person's, voting power in the company or managed investment scheme exceeding 20%, unless the acquisition is through one of the exceptions.The 20% rule is a broad prohibition with a number of anti-avoidance elements.
REF# https://www.minterellison.com/articles/summary-of-australian-takeover-laws
Factor in the 20% rule and TO is definitely viable.Australian...
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