- Alaska Statutes.
- Title 45. Trade and Commerce
- Chapter 57. Takeover Bid Disclosure Act
- Section 10. Provisions of Takeover Bids.
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. Takeover Bid Disclosure Act
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AS 45.57.010. Provisions of Takeover Bids.
The following provisions apply to every takeover bid:
- (1) the period of time within which securities may be tendered by an offeree under a takeover bid shall not be less than
21 days nor more than 35 days from the date copies of the takeover bid are first published or sent or given to
- (2) securities deposited under a takeover bid may be withdrawn by an offeree or the attorney-in-fact of the offeree by
demand in writing on the offeror or the depository at any time within 21 days from the date copies of the takeover bid
are first published or sent or given to offerees;
- (3) when a takeover bid is made for less than all the shares or other units of a class and when a greater number of shares
or other units is deposited under it than the offeror is bound or willing to take up and pay for, the shares or other
units taken up by the offeror shall be taken up as nearly as may be pro rata, disregarding fractions, according to the
number of shares or other units deposited;
- (4) when an offeror varies the terms of a takeover bid before the expiration of it by increasing the consideration
offered, the offeror shall pay the increased consideration to each offeree whose securities are taken up even if they
have been taken up and paid for before the variation of the takeover bid;
- (5) when a takeover bid is sent by mail to offerees, it shall be accompanied by a copy of the statement filed with the
department under AS 45.57.020
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