: If the acquirer reaches a certain threshold (e.g., 90% for a "short-form merger"), they can "squeeze out" the remaining minority shareholders to finalize the deal. 2. The Regulatory Process (Takeover Code)
In India, acquiring of voting rights or gaining "control" triggers a Mandatory Tender Offer (MTO) . how to buy a public company
: Within five working days, a more comprehensive statement detailing the acquirer, the target, and funding arrangements must be released. : If the acquirer reaches a certain threshold (e
: The acquirer makes a public "tender offer" to buy shares directly from existing shareholders at a specified price. : Within five working days, a more comprehensive
Requires approval from the target's board of directors and a majority (often in India) of shareholders.
: The acquirer files a draft Letter of Offer with SEBI for review and comments.
Once approved, the companies merge, and the target's shares are delisted from the stock exchange. :