0 a person, company, or organization that offers to buy something from another person, company, or organization:
On two occasions the offer made was accepted, but the offeror found himself unable to complete the transaction.
Furthermore, other shareholders should not be prevented by management from selling their interests to a potential offeror.
This is not to say that no consequences should attach to an offer document containing statements which the offeror knows to be false or misleading.
I think that the offeror should also be required to present an adjustment plan for the new company that is coming into being.
With a public offer of new securities it should be incumbent upon the offeror to produce a prospectus.
That was the thinking that prompted our amendments defining the offeror, protecting minority shareholders and specifying the functions of the supervisory authority.
If it has reason to believe that an offeror company has made statements in bad faith, it can investigate and take whatever steps it feels are necessary.
We think that it is important to maintain those ground rules, both from the point of view of minority shareholders and from the point of view of the offeror.
