A T O home
Legal Database
Search   
for 
 
Access the database 
Browse database
Searches  
View last document
Quick access 
View legislation
View a document
Email Cross Reference Material Previous/Next Section Contents Previous/Next Result
Printable version
Printable
version

CORPORATIONS ACT 2001

CHAPTER 6 - TAKEOVERS  

PART 6.3 - THE DIFFERENT TYPES OF TAKEOVER BID  

SECTION 616  OFF-MARKET BIDS AND MARKET BIDS  

616(1)  [Kinds of bids]  


There are 2 kinds of takeover bid:


(a) an off-market bid (for quoted or unquoted securities); or


(b) a market bid (only available for quoted securities).

Note: Although the prohibition in section 606 is against acquiring relevant interests in voting shares, a takeover bid may be made for any securities (for example, as a preliminary to compulsorily acquiring securities in that class under Part 6A.1).

616(2)  [Table relating to offer provisions]  


The following table shows where to find the provisions dealing with the main features of the offers that may be made under off-market bids and market bids and the procedures to be followed:
Takeover bids[signpost table] 
 FeatureOff-market bidMarket bid
1people to whom offers made617(1)-(2)617(3)
2securities covered618(1)-(2)618(3)
3consideration offered for the securities621(1), (3)-(5) and 651A621(2), (3)-(5)
4escalation agreements and collateral benefits not allowed622 and 623622 and 623
5offer period624(1)-(2) and 650C624(1)-(2) and 649C
6conditional offers625(2)-(3) and 626-630625(1)
7procedure to be followed in making bid632 and 633634 and 635
8acceptances650E and 653A-653B-


 



This information is provided by CCH Australia Limited. View the disclaimer and notice of copyright.
Top of page
More information on page