THE CORPORATIONS LAW

CHAPTER 6 - TAKEOVERS

PART 6.6 - VARIATION OF OFFERS

Division 2 - Off-market bids (express variation by bidder)

SECTION 650C   OFF-MARKET BIDS - EXTENSION OF OFFER PERIOD  

650C(1)  [Power to extend offer period]  

A bidder making an off-market bid may extend the offer period at any time before the end of the offer period.

650C(2)  [Effect of defeating condition]  

If the bid is subject to a defeating condition, the bidder may extend the offer period after the publication of the notice under subsection 630(3) only if one of the following happens after the publication:

(a)  another person lodges with ASIC a bidder's statement for a takeover bid for securities in the bid class

(b)  another person announces a takeover bid for securities in the bid class

(c)  another person makes offers under a takeover bid for securities in the bid class

(d)  the consideration for offers under another takeover bid for securities in the bid class is improved.

Note:

Section 624 says how long the total offer period can be.