Corporations Act 2001
(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 ]|
|Feature||Off-market bid||Market bid|
|1||people to whom offers made||617(1) - (2)||617(3)|
|2||securities covered||618(1) - (2)||618(3)|
|3||consideration offered for the securities||621(1), (3) - (5) and 651A||621(2), (3) - (5)|
|4||escalation agreements and collateral benefits not allowed||622 and 623||622 and 623|
|5||offer period||624(1) - (2) and 650C||624(1) - (2) and 649C|
|6||conditional offers||625(2) - (3) and 626 - 630||625(1)|
|7||procedure to be followed in making bid||632 and 633||634 and 635|
|8||acceptances||650E and 653A - 653B||-|
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