Penguin International

[new-comer1]

I can foresee they will keep on extending the offer period so that shareholders who are fed up will eventually sell their shares and J&J will achieve 90%...

Can it be done ?

The answer is no. There are certain rules in place in terms of milestone events for any takeover offers. The final date is normally 4 months after dispatch of offer document. If the offeror couldn't acquire 90% of the offer shares by then in order to commerce compulsory acquisition, the offer will lapse.

Thank you for the information