https://www.taxtmi.com/acts?id=34406 Upon a public announcement of an open offer, the board must keep the target's business in the ordinary course and may not undertake major corporate actions without shareholder approval by special resolution; limited exceptions for pre-announcement conversions, filed public issues and announced rights issues apply. The company must not fix certain record dates during the tendering period, must provide a shareholder list to the acquirer (with reimbursement for reasonable costs), constitute a committee of independent directors to publish reasoned recommendations (including voting patterns) before tendering, facilitate verification and cooperation among acquirers, and promptly register transfers once regulatory conditions are met. en-us Fri, 04 Jan 2019 18:12:49 +0530 Thu, 29 Aug 2024 17:35:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=34406 Upon a public announcement of an open offer, the board must keep the target's business in the ordinary course and may not undertake major corporate actions without shareholder approval by special resolution; limited exceptions for pre-announcement conversions, filed public issues and announced rights issues apply. The company must not fix certain record dates during the tendering period, must provide a shareholder list to the acquirer (with reimbursement for reasonable costs), constitute a committee of independent directors to publish reasoned recommendations (including voting patterns) before tendering, facilitate verification and cooperation among acquirers, and promptly register transfers once regulatory conditions are met. Act-Rules SEBI Fri, 04 Jan 2019 18:12:49 +0530 https://www.taxtmi.com/acts?id=34406