Law360, New York ( August 15, 2011, 1:29 PM EDT) -- Tender offers are commonly referred to as "two-step" transactions, as a successful tender offer satisfying the minimum condition (i.e., the first step) is followed by a "back-end" merger which squeezes out the inevitable remaining target shareholders. Ideally, the buyer will reach 90-percent ownership following the tender (or the equivalent threshold in jurisdictions other than Delaware) and will be able to complete the second-step as a "short-form" merger immediately following the closing of the tender offer without the requirement to seek target shareholder approval....
Law360 is on it, so you are, too.
A Law360 subscription puts you at the center of fast-moving legal issues, trends and developments so you can act with speed and confidence. Over 200 articles are published daily across more than 60 topics, industries, practice areas and jurisdictions.
A Law360 subscription includes features such as
- Daily newsletters
- Expert analysis
- Mobile app
- Advanced search
- Judge information
- Real-time alerts
- 450K+ searchable archived articles
And more!
Experience Law360 today with a free 7-day trial.