Public Tender Offer

A Public Tender Offer contains the following elements:

  • publicly listed company as the target company
  • share purchase
  • offer direct to shareholders of the target company
  • offers
    • with the approval of the Board of Directors of the target company (= friendly take-over)
    • against opposition from the Board of Directors of the target company (= unfriendly take-over)
  • payment
    • in cash
    • exchange for equity instruments in the acquiring company or a third company.

Further information

  • Swiss Federal Law on Stock Exchanges and Securities (Swiss Stock Exchange Law) [SR 954.1]

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