Jaap winter, chairman of the high level group which began its work in september 2001 recommended, on january 10, that any european company law regulation aimed at creating a level playing field for takeover bids should be guided by two principles. With opera software, oslo bors offers derivatives on 20 individual shares, as well as on the obx total return index. Opera software sale not happening, sort of ghacks tech news. Latest bids, mergers and takeovers stock market wire. Takeover bid definition of takeover bid by the free dictionary. Takeover bid definition of takeover bid by the free. European tech stalwart opera likely to accept chinese takeover. Aug 11, 2010 such case of mergeracquisition is popularity known as raid. Chinese takeover of norways opera fails, alternative proposed.
Opera software shareholders back chinese takeover bid reuters. It also aims to ensure protection and fair treatment of investors in companies that are subject to such situations as named above, and have at least some of their securities admitted to trading on a regulated. Takeover bids financial definition of takeover bids. Jun 24, 2014 adds opera software, gdf suez, endo international. About this guide this guide is for listed and unlisted entities, their advisers, and investors involved in a takeover bid. Takeover bid an offer in which an investor or company attempts to buy a publiclytraded company, or, more commonly, most of the shares in that company. A hostile takeover allows a bidder to take over a target company whose management is unwilling to agree to a merger or takeover. Jul 19, 2016 yicai global july 19 after a proposed usd1. Takeover bids are presented to companies who are attractive candidates for takeover, which primarily means the company is profitable. Chinese takeover of norways opera fails, alternative. Feb 08, 2016 last friday, the oslo stock exchange decided to halt trading in opera softwares shares after rumors of a potential takeover by chinese security firm qihoo 360 appeared in a norwegian newspaper. Takeover bid definition and meaning collins english.
The value of your investments can move downwards or upwards. The tender offer is a public, open offer or invitation usually announced in a newspaper advertisement by a prospective acquirer to all stockholders of a publicly traded corporation the target corporation to tender their stock for sale at a specified price during a specified time, subject to the tendering of a. Takeover bid definition of takeover bid by merriamwebster. Opers procures goods and services using request for proposals rfp, request for quotes rfq, request for information rfi and other such competitive models. In an ideal world, if the board feels that accepting the offer serves the shareholders better than rejecting it, it recommends the offer be accepted by the shareholders. Guide to the new legal provisions applicable to takeover. Resurgence in onmarket takeover bids herbert smith. Theres been plenty of speculation around the future of web browser maker opera, and now that looks like it will soon be resolved.
Yicai global chinese group offers to buy operas consumer. Takeover bid definition is an attempt by someone to gain control of the company by buying most of its stock. A takeover is considered hostile if the target companys board rejects the offer, and if the bidder continues to pursue it, or the bidder makes the offer directly after having announced its firm intention to make an offer. When you invest in margin products, losses may exceed deposits. The different rules and features applicable to onmarket bids can provide some tactical advantages for bidders.
All content on this website, including dictionary, thesaurus, literature, geography, and other reference data is for informational purposes only. Opera creates browsers that allow desktop computers and phones to access the internet, and its software works with apple and microsoft. Briefopera software bid acceptance rate rises to 89 pct. Buyers plan to begin 71kronerashare cash tender offer. It also aims to ensure protection and fair treatment of investors in companies that are subject to such situations as named above, and have at least some of their securities admitted to trading on a regulated market in a member state. European tech stalwart opera likely to accept chinese takeover bid. Meaning, pronunciation, translations and examples log in dictionary. A special committee of dell incs board is evaluating separate takeover proposals from blackstone group and billionaire investor carl icahn to decide whether either or both are likely to trump. These bids may facilitate a very quick change of control and put a lot of pressure on the target and potential rival bidders. Opera software takeover gets nod from shareholders. Opera software asa agreed to sell itself to a group of chinese technology. Takeover bid definition and meaning collins english dictionary. How and when does the board of directors of the offeree company. The next section will outline the diverging views of takeover bids under chapter 6 of the corporations act.
The buyer groups original bid in february for all of opera was 71 kroner a share, which at the time was a 46 percent premium to the latest closing price. Opera is a leading global internet brand with a large, engaged and growing base of over 350 million average monthly active users. Summary there has been an increase in onmarket takeover bids recently. A friendly takeover is an acquisition which is approved by the management of the target company. Opera software shareholders back chinese takeover bid. Resurgence in onmarket takeover bids there has been upsurge in the. Opera software is one of the most traded securities on oslo bors, a member of the obx index and the possibility to trade derivatives on this share has been in demand from the market.
Lowcost airline norwegian air shuttle said friday it had turned the cold shoulder to two separate takeover bids by british airways owner iag, which recently acquired a 4. Opera software shares surge on facebook takeover talk. Cisco uses cookies on this website aiming to improve your online experience. The takeover bid 7 subject, bidder and addresses 7 documentation for public takeover bids 7 the launch of the takeover bid 7 the offer document 8 the targets statement 10 fairness and equivalent treatment 11 consideration 11 pricing a bid 12 conditional bids 12 proportional bids duration of offer.
The takeover bid procedure involves the formation of contracts between the bidder and individual holders of the securities in the target company and that the bidder is offering to obtain. Opera software asa fell as much as 17 percent after its sale to a chinese group failed to get government approval and was canceled, and the company instead agreed to sell its webbrowser business. The chance of a takeover often adds to a stocks appeal, although this appeal alone doesnt provide reason. Takeover bid to salamis tours holdings public limited. Opera postpones earnings release as takeover rumors swirl. For example, if corporation a offers to buy 51% or more of corporation b, then corporation a is making a takeover bid. Xerox to press ahead despite hps poison pill plan against takeover offer. The chance of a takeover often adds to a stocks appeal, although this. Valid responses must be submitted to opers by the specified submission date. The tender offer is a public, open offer or invitation usually announced in a newspaper advertisement by a prospective acquirer to all stockholders of a publicly traded corporation the target corporation to tender their stock for sale at a specified price during a specified time, subject to the tendering of a minimum.
The available data tends to suggest that takeover bids have been more. Similarly, some other nris have also made hostile bid to takeover some other indian companies. Mar 25, 20 a special committee of dell incs board is evaluating separate takeover proposals from blackstone group and billionaire investor carl icahn to decide whether either or both are likely to trump. Heres a list of similar words from our thesaurus that you can use instead. Takeover bid meaning in the cambridge english dictionary.
Opera is best known for its series of web browsers and being one of the morepopular web browsers for early. The description includes initial deal values, degree of actual competition. After months of rumor, opera finally confirmed two weeks ago that its board had accepted a takeover offer from a consortium of chinese firms for the price of. Athenahealth timeline leading up to the current takeover. Guide to public takeovers in europe june 2016 under no obligation, and have no responsibility, to provide updates of any such information page 5 important note this guide is intended to provide a summary overview of certain important aspects of the law and regulation governing takeover offers in the seven jurisdictions which it covers. Opera s free vpn, ad blocker, integrated messengers and private mode help you browse securely and smoothly. Opera software asa opera is an industry leader in the development of web browser technology, targeting the desktop, mobile internet, itv and vertical markets. Share files instantly between your desktop and mobile browsers and experience web 3.
More than 90 percent of norwegian online browser and advertising company opera softwares shareholders have backed a chinese. A takeover bid is a type of corporate action in which an acquiring company makes an offer to the target companys shareholders to buy the target companys shares in order to gain. We begin in section 2, takeover activity, with a brief discussion of takeover waves, followed by a detailed description of the initial bids in an unprecedented sample consisting of more than 35,000 takeover contests for u. Before a bidder makes an offer for another company, it usually first informs the companys board of directors. Oslo bors to list derivatives on opera software news from. Guide to the new legal provisions applicable to takeover bids for securities. Stock analysis for otello corp asa opera including stock price, stock chart, company news, key statistics, fundamentals and company profile. Competition and antitrust 4 references 414 abstract this chapter surveys the recent empirical literature and adds to the evidence on takeover bids for u. Last friday, the oslo stock exchange decided to halt trading in opera softwares shares after rumors of a potential takeover by chinese security firm qihoo 360 appeared in a norwegian newspaper. Opera is best known for its series of web browsers and. While athenahealth has not publicly responded, heres a look back at some of the moves by the company and outside forces that preceded the offer. In corporate finance, a tender offer is a type of public takeover bid.
Specialist products provider, trackwise designs, has completed the acquisition of stevenage circuits. The available data tends to suggest that takeover bids have been more popular in the year to date than schemes of arrangement. Opera stock quote otello corp asa bloomberg markets. Opera software, which is best known for its browser of the same name, has urged its shareholders to accept a buyout offer from a chinese. Guide to the new legal provisions applicable to takeover bids. Regulatory guide rg 9 takeover bids asic home asic. Operas free vpn, ad blocker, integrated messengers and private mode help you browse securely and smoothly. The new takeover code, as announced by sebi deals with the hostile bids. A total of around 89 percent of shareholders have said they accept the takeover bid from a chinese consortium by tuesdays 1430 gmt deadline this includes. This guide is for listed and unlisted entities, their advisers, and investors involved in a takeover bid. Jul 18, 2016 opera software asa fell as much as 17 percent after its sale to a chinese group failed to get government approval and was canceled, and the company instead agreed to sell its webbrowser business. Bid software development jobs, employment freelancer.
Complex products, including contracts for difference cfd, pose a high risk of rapid loss of capital due to leverage. Oslo reuters more than 90 percent of norwegian online browser and advertising company opera softwares opera. May 04, 2018 lowcost airline norwegian air shuttle said friday it had turned the cold shoulder to two separate takeover bids by british airways owner iag, which recently acquired a 4. Mobile games and apps firm kunlun, which publishes angry birds in china, is the majority partner. May 29, 2012 opera software shares surge on facebook takeover talk. Latham provided antitrust counsel to electronic arts inc. Trading in opera shares was suspended on friday amid takeover rumors. Such case of mergeracquisition is popularity known as raid.
A takeover bid is an offer to the shareholders of a company made by another corporation in order to acquire that company. Norwegian online advertising and browser software company opera has received an acquisition offer from a consortium of chinese internet. The takeover bids directive tod aims to ensure equal treatment in europe for all companies launching takeover bids or that are subject to a change in control. Resurgence in onmarket takeover bids there has been upsurge in the number of on.
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