Takeover bids and exchange offers are used by companies to acquire listed companies, thereby becoming the majority shareholder.
In a takover bid, the company publicly announces its intention to buy the shares of the shareholders of the target company, on stated terms and conditions, for a pre-determined period and at a price fixed in advance. This price is the same for all shares and is generally higher than the market price.
Exchange offers operate on the same principle, except that the company launching the offer, gives shareholders the opportunity to exchange their shares for its own shares.
Squeeze outs are lanched by a majority shareholder seeking to buy out minority shareholders.
The Corporate Finance Advisory for Listed Companies provides assistance to its clients at all stages of takeover bids, exchange offers and squeeze outs, including preparation of the transaction, mandatory filings with the CMF and dealings with the COB.