Important Characteristics

The most important characteristics of the regulation are the following:
  • the operations have to referred to securities admitted to official stock exchange market quotation. They are basically shares or debentures that are convertible into shares.

Participation must be significant such as for example, a minimum 25% of the capital of the society, including the shares owned before.

These operations have to be authorized by the stock exchange market

The communication to the company and its shareholders must contain information about securities which the offer extends , payment offered for the securities , guarantees offered to be able to pay the offer, acceptance term of the offer and the finality for the acquisition of the shares.

The company in charge of the public offer of acquisition has to be fixed at the maximum and minimum number of securities that is willing to acquire.

Once the offer goes public, the owners of shares of the company to be controlled may accept the offer by informing it to a member of the stock exchange market.

After the end of the term of the offer, the stock exchange market has to verify if the acceptance surpasses the minimum demanded. In case this is so, the shares will be sold to the company that is promoting the public offer of acquisition. If the accepted shares overcome the maximum limit, they will be allotted.

When the accepted shares do not surpass the minimum, the public offer of acquisition will be nullified.

For which formulated the public offer of acquisition, there are several advantages to have present:

know beforehand the price to pay for the shares you need to purchase. If you buy by successive lots you will not find until the end of the total cost of the operation.

The investment operation will only be done if the public offer of acquisition is accepted. Therefore avoid buying by bits because you might not be able to reach the number of shares needed.

A variety of public offer of acquisition is that which is denominated as public offer of acquisition of exclusion. This is produced when the offer of acquisition is done to acquire shares that are quoted on the market in order to exclude these shares from being quoted.