Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
TAKE-OVER BID:
If Company A ("the transferee company") offers to acquire shares of Company B ("the transferor") and the scheme or contract to which the offer relates is accepted by holders of nine-tenths of the shares for which the offer is made Company A may then compulsorily acquire the remaining 10 per cent (or less) of the shares so as to achieve a complete 100 per cent acquisition of the shares: CA, s.210.
It is standard procedure in making a take-over bit to state that if 90 per cent acceptance is attained compulsory acquisition under s.210 will follow. Company A may resort to s.210 whether it offers its own shares or cash for shares of Company B. The procedure is available if Company A already owns shares of Company B and offers to acquire those which it does not already own (but see para 22 below.) The non-accepting minority may however apply to the court to prevent Company A from acquiring their shares. The rules of procedure are explained below.
The offer must be made by a company to acquire shares of another. S.210 is not available to an individual who makes a take-over bid (but he can always form a company for the purpose: provided no fraud or imoproper conduct is involved: Re Bugle Press Ltd.
If Company A directly or through subsidiaries owns more than one-tenth of the shares of Company B then (in order to be able to use s.210) Company A must:
(a) offer the same terms for all the shares which it does not already own;
(b) obtain acceptances from holders who are three-quarters in number as well as holders of 90 per cent of the shares.
The wording of s.210 is ambiguous but it is generally taken that Company A must offer to acquire all of the shares of Company B which it does not already own if it is then to use s.210 to acquire the remaining shares in Company B (or all the shares of the class) for which the offer is made.
Commercial Law Alice is an 80 year old, illiterate, and suffering from Alzheimer’s disease (a disease affecting short-term memory). Will is a social worker employed by the loc
General rules on statute-barred debts: A statute-barred debt should be rejected since it is not legally enforceable. But in a members' voluntary winding up the liquidator may
Advantages of Negotiable Instruments (i) A negotiable instrument provides a creditor regarding a better remedy, since once it has been issued like or accepted whether applicab
Domestic Agency of Necessity However a married woman that has been actually or constructively deserted through her husband has authority on common law to take necessities at c
The college contacted the state labor relations commission (LRC) to dismiss the petition due to the law did not needs collective bargaining for those who perform services as studen
1. What is the difference between modifying a contract under common law and modifying a contract under the UCC? 2. What is a "waiver" and what are its implications? 3. What i
Illustrate the doctrine of judicial precedent? The doctrine of judicial precedent It states that higher court decision are binding on lower courts and like a result it i
Question 1: The question of morality of Public Servants has become a public issue nowadays. What according to you are the factors that have contributed to such a situation?
State Article 8 of Universal Declaration of Human Rights. Article 8 - 'Everyone has a right to an effective remedy by the competent national tribunal for acts violating t
Theories of self-enforcing or implicit contracts These theories relate to the problem of limits to which legal compulsion can be employed (due to information or transaction cos
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd