Open offer filing requirements: draft letter and prescribed fee must be filed promptly; regulator to comment within set period. The acquirer must file the draft letter of offer with the Board through the manager within five working days of the detailed public statement and pay a non refundable fee calculated on the total consideration at the offer price (or highest price for differential pricing). The manager must provide soft copies for upload and implement Board specified changes. The Board will comment expeditiously and not later than fifteen working days, extended where clarifications are sought; competing offers receive same day comments and inadequate disclosures may prompt a revised letter.
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Open offer filing requirements: draft letter and prescribed fee must be filed promptly; regulator to comment within set period.
The acquirer must file the draft letter of offer with the Board through the manager within five working days of the detailed public statement and pay a non refundable fee calculated on the total consideration at the offer price (or highest price for differential pricing). The manager must provide soft copies for upload and implement Board specified changes. The Board will comment expeditiously and not later than fifteen working days, extended where clarifications are sought; competing offers receive same day comments and inadequate disclosures may prompt a revised letter.
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