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]
