| Where control of the offeree company is at stake, it is important to ensure that its fate is decided by its shareholders. |
| Over-the-board play shows that even alliances which are genuinely good for both parties are frequently questioned by the offeree. |
| If the directive goes through, the board of a bidding or offeree company will have to declare its hand at the time of the bid. |
| Where the offeree company has issued more than one class of shares, the rule laid down in paragraph 1 shall apply separately within each class. |
| Has the acceptance been authorised and communicated by the offeree or his agent? |
| The transfer notice shall be capable of being accepted by the offeree at any time up to six months prior to the date on which termination shall take effect. |
