Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.
Hi Team , my understanding is if a company wants to make a full takeover offer they have to own more than 20% of the company ? Why has MIN upped it's stake to 24% but doesn't have to take a full takeover of DLI ? Cheers Craig
Hi Craig,
Things are rarely that clear cut and straightforward. A takeover bid can be launched when a company owns more or less than 20% but it doesn’t have to be. While a bid is often required on holding more than 20% of the voting rights, there are a number of exceptions to the rule, the one applicable here would be ‘creeping provision’ where Mineral Resources can creep up the register.
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