| law, com.law |
compulsory acquisition (In the context of a UK takeover offer made on or after 6 April 2007, where a bidder obtains acceptances of at least 90% of the shares it is offering to buy in the target company (which is not the same as 90% of the total issued share capital) and acceptances of at least 90% of the voting rights carried by the shares it is offering to buy, it can require the remaining non-accepting shareholders to sell their shares on the terms of the offer by following the procedures in sections 974 to 991 of the Companies Act 2006. 'More); squeeze-out (Following a takeover offer for a UK company, the right of the bidder (under section 979 of the Companies Act 2006) to acquire minority shareholdings on a compulsory basis if it has acquired or unconditionally contracted to acquire not less than 90% in value of the shares to which the takeover offer relates and not less than 90% of the voting rights carried by the shares to which the offer relates.  wikipedia.org 'More); squeezeout (Following a takeover offer for a UK company, the right of the bidder (under section 979 of the Companies Act 2006) to acquire minority shareholdings on a compulsory basis if it has acquired or unconditionally contracted to acquire not less than 90% in value of the shares to which the takeover offer relates and not less than 90% of the voting rights carried by the shares to which the offer relates. wikipedia.org 'More) |
