TERMIUM Plus®

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CONTESTED TENDER OFFER [1 record]

Record 1 2010-09-30

English

Subject field(s)
  • Amalgamation and Partnerships (Finance)
  • Commercial Law
  • Stock Exchange
  • Investment
DEF

An offer to purchase shares of a business corporation with a view to gain control that is opposed by its management and/or the shareholders.

CONT

Since a hostile takeover bid is an offer to purchase shares made to a target corporation's shareholders and not to the target corporation itself, the directors and managers of the target corporation do not have control over the timing or terms of such an offer.

French

Domaine(s)
  • Fusion, absorption et coparticipation (Finances)
  • Droit commercial
  • Bourse
  • Investissements et placements
DEF

Offre publique d'achat d'une participation déterminante dans une société faite contre le gré des dirigeants ou des principaux actionnaires de cette société.

CONT

Une OPA peut être amicale si elle est réalisée en accord avec l'équipe dirigeante de la société cible, ou elle peut être hostile si elle est contestée. On parle alors d'OPA sauvage.

Spanish

Campo(s) temático(s)
  • Consolidación y asociaciones (Finanzas)
  • Derecho mercantil
  • Bolsa de valores
  • Inversiones
DEF

OPA que realiza un accionista minoritario o un extraño a la sociedad sin conocimiento o aceptación previa por sus órganos sociales.

CONT

En sociedades donde el consejo o la dirección controlan un porcentaje del capital relativamente pequeño, es posible que los accionistas minoritarios se inclinen a vender ante un precio atrayente. En la OPAH, a diferencia del órdago, se intenta realmente la compra y el control de la sociedad.

OBS

oferta pública de adquisición hostil; OPAH: términos y definición extraídos del CAPITAL Business Dictionary con la autorización de LID Editorial Empresarial.

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