RE: No chance to defend a hostile bid13 Oct 2022 16:16
If someone makes moves in a hostile takeover they don't need to own any of the traget companies shares at the time of the offer, they can just make a formal offer at a price .... If more than 50% of share ownership accepts the offer can proceed.
In the UK the 30% ownership threshold only comes into play when the party, unless authorised otherwise & exempted, owning 30% MUST make an offer to buy all shares in the company at a minimum of the highest price paid for shares in the previous 12 months....