Knowledge Base

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Questions

Which European directive governs public takeover bids?

Directive 2003/6/EC
Directive 2004/25/EC
Directive 2014/65/EU
Directive 2018/843

What role does the independent expert play in a mandatory buyout offer (OPR)?

It sets the offer price
It validates the exchange ratio
It certifies the fairness of the proposed price
It approves the delisting

What is the triggering threshold for a mandatory takeover bid on Euronext Growth under article 234-2 of the AMF General Regulation?

30% of capital or voting rights
50% of capital or voting rights
70% of capital or voting rights
90% of capital or voting rights

What is the main characteristic that distinguishes a takeover bid (OPA) from an exchange offer (OPE)?

A takeover bid is always friendly, while an exchange offer is always hostile
A takeover bid is settled in cash, while an exchange offer is settled in shares
A takeover bid requires general meeting approval, while an exchange offer does not
A takeover bid lasts 25 days, while an exchange offer lasts 10 days

Categorize items by dragging them to the appropriate zones

Items to categorize:

OPA
30%
OPE
50%
OPR
90%
Categories:

Types of public offers

Triggering thresholds

Minimum duration for a simplified takeover bid procedure

Click to see answer

In 2024, there were more public offers approved by the AMF than in 2023.

True
False

A mandatory buyout offer (OPR) can be launched as soon as a shareholder holds 95% of the capital and voting rights.

True
False