Take-over bids, Business Law and Ethics

Take-over bids:

Section 210 provides that where a scheme or contract  involving the transfer of shares or any class of shares in a company to another company has been approved by the holders of not less than nine-tenths in value of the  shares whose transfer is involved the transferee company may, at any time within two months after the expiration of four months after the making of the offer by the  transferee company, give notice in the prescribed manner to any dissenting shareholder that it desires to acquire his shares. The dissenting shareholder must then apply to the court within one month from the date on which the notice was given for an order restraining the transferee company from compulsorily acquiring his shares. The  court order may, in an appropriate situation, lift the veil of incorporation. This is illustrated by Re: Bugle Press Ltd (9) in which an offer made by a company was  regarded as having been made, in substance, by the  company's members. The court thereby lifted the veil of incorporation by treating the company and its members as one entity for purposes of acceptance of the offer.

Posted Date: 1/12/2013 2:07:40 AM | Location : United States







Related Discussions:- Take-over bids, Assignment Help, Ask Question on Take-over bids, Get Answer, Expert's Help, Take-over bids Discussions

Write discussion on Take-over bids
Your posts are moderated
Related Questions
Resolution to Wind Up Voluntarily:  The type of resolution to be passed varies with the circumstances of the case, as provided in s.271(1): (a) If the articles provide for

Deadlock in the management: The company existed only to "work a particular patent" and as it could not do so it should be wound up. But if there are two or more alternative

Fraudulent concealment of a book: Hence it is nothing to him where dividends are properly or improperly declared, and provided he discharges his own duty to the shareholders.

Companys Constitution: The constitution of a registered company consists of two  documents, namely, the memorandum of association and the articles of association. The contents

WHAT ARE THE EXCEPTINS TO THE ''NEMO DAT'' RULE?

how evidence is used to prove a criminal offence: This question is asking you to consider the importance of evidence, how it is used and how reliable it may be in supporting

Advantages of Stare Decisis - Flexibility Since of the freedom that final Court of Appeal always has to depart from a previous decision of its own whether the social condi

Your first big case is a multiple murder. As defense attorney for SyKopath, you have come to the realization that he really did break into a couple's home and torture and kill them

QUESTION 1 Discuss the legislative framework governing employment law in Mauritius. QUESTION 2 Pam works as a technician at Continent Ltd. During the few past weeks, Pa

Q. Describe the Cole Inquiry recommendation? In 2003 the Cole Inquiry made a range of recommendations to reform the building and construction industry. The Inquiry found that t