| Commentary

173 Preliminary issues

| Commentary

(b) Preliminary considerations for the offeror

173 Preliminary issues

Where a company is thinking of putting in an offer for a public company, there are several preliminary issues which should be considered. First, the offeror company should check its articles of association to ensure that it has the relevant powers to make the offer1. If the offer is outside the scope of the company’s constitution, the articles of association may be amended by special resolution of the members2. Second, where the target company is a bank, or an insurance company, the offeror may need the sanction

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