| Commentary

34.1 General

| Commentary

34 Financial promotions

34.1 General

Although the great majority of takeovers or reorganisations of unlisted companies will be the result of face-to-face negotiation between buyer and seller, in some circumstances the shareholders of the offeree company may be geographically widely spread and the offer for their shares has to be transmitted to them in documentary form, for example where the offeree company is an unlisted public company and the shares are widely held, or the offeree company was founded by one or two families and the shares have, through sales, gifts, settlements and testamentary dispositions, become diffused through many relatives

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