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Current as of January 01, 2023 | Updated by FindLaw Staff
Subdivision 1. Uniformity of terms. No offeror may make a takeover offer which is not made to stockholders in this state on substantially the same terms as the offer is made to stockholders outside this state.
Subd. 2. Right to withdraw equity securities. An offeror shall provide that any equity securities of a target company deposited or tendered pursuant to a takeover offer may be withdrawn by or on behalf of any offeree at any time within seven days from the date the offer has become effective under sections 80B.01 to 80B.13 and after 60 days from the date the offer has become effective under sections 80B.01 to 80B.13, except as the commissioner may otherwise prescribe by rule or order for the protection of investors.
Subds. 3, 4. Repealed by Laws 1985, 1st Sp., c. 5, § 20.
Subd. 5. Affect of allegations of securities-related violations. No offeror may make a takeover offer or acquire any equity securities in this state pursuant to the takeover offer, at any time when any proceeding by the commissioner is pending against the offeror alleging a violation of any provision of sections 80B.01 to 80B.13 or chapter 80A.
Subd. 6. Repealed by Laws 1985, 1st Sp., c. 5, § 20.
Subd. 7. Repealed by Laws 1991, c. 58, § 16.
Cite this article: FindLaw.com - Minnesota Statutes Commercial Regulations (Ch. 80B-81A) § 80B.06. Limitations on offerors - last updated January 01, 2023 | https://codes.findlaw.com/mn/commercial-regulations-ch-80b-81a/mn-st-sect-80b-06/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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