The ‘minimum bid price rule’ in s621(3) provides that a bidder making a takeover bid must offer consideration at least equal to the maximum consideration that the bidder or an associate provided, or agreed to provide, for a bid class security under any purchase or agreement during the four months before the date of the bid (pre-bid purchase). "
Not sure what happens if they don't buy any in the 4 months proceeding any offer but assume any offer documents would be rejected by asic if it wasn't considered a genuine bid.
Thanks
HGO Price at posting:
7.9¢ Sentiment: None Disclosure: Held
(20min delay)
