Commonwealth Consolidated Acts

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CORPORATIONS ACT 2001 - SECT 634

Overview of steps in a market bid

                   The following diagram gives an overview of the steps involved in a market bid.

 

Overview of steps in a market bid

 

Bidder

 

 

 

Step 1

announcement of bid to the market

 

 

 

 

 

 

 

 

 

Step 2

bidder's statement

---- ®

*  market
*  target
*  Registrar

 

 

 

 

 

 

Step 3

bidder's statement and any other documents sent with it to the market

---- ®

*  holders of bid class securities

 

 

 

 

 

 

Step 4

copy of documents sent to holders

---- ®

*  market
*  Registrar

 

 

 

 

 

 

 

Target

 

 

 

Step 5

target's statement

 

---- ®

*  market
*  bidder
*  Registrar
*  holders of bid class securities

 

 

 

 

 

 

 

Bidder

 

 

 

Step 6

make offers on the market

 

 

 

The holders then consider the terms of the offer, and the statements provided by the bidder and the target, and decide whether to accept the offer on-market before the end of the bid period.



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