Indiana Code 23-2-3.1-8.4. Subsequent acquisition of equity securities by offeror; equivalent terms; limitation
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Terms Used In Indiana Code 23-2-3.1-8.4
- Equity security: means :
Indiana Code 23-2-3.1-1
- Offeror: means a person who makes or in any way participates in making a takeover offer. See Indiana Code 23-2-3.1-1
- Substantially equivalent terms: means terms under which the fair market value of the consideration offered any offeree of a class of equity securities of the target company (determined on a per share or a per unit basis) are equal to the highest consideration offered in connection with a takeover offer to any other offeree of that class (determined on a per share or per unit basis). See Indiana Code 23-2-3.1-1
- Takeover offer: means an offer to acquire or an acquisition of any equity security of a target company, pursuant to a tender offer or request or invitation for tenders, if, after the acquisition, the offeror is directly or indirectly a record or beneficial owner of more than ten percent (10%) of any class of the outstanding equity securities of the target company. See Indiana Code 23-2-3.1-1
- Target company: means an issuer of securities which is organized under the laws of this state, has its principal place of business in this state, and has substantial assets in this state. See Indiana Code 23-2-3.1-1
Sec. 8.4. No offeror may acquire in any manner any equity security of any class of a target company at any time within two (2) years following the conclusion of a takeover offer with respect to that class, including but not limited to acquisitions made by purchase, exchange, merger, consolidation, partial or complete liquidation, redemption, reverse stock split, and any other recapitalization or reorganization, unless the holder of that equity security is also afforded, at the time of that acquisition, a reasonable opportunity to dispose of that security to the offeror upon substantially equivalent terms.
As added by P.L.242-1983, SEC.6.