TKO 11.4 TKO 11.4 Revision of bids
TKO 11.4.1 TKO 11.4.1
Biddermust ensure that its Bid, if revised, is kept open for at least 14 days following the date on which the revised Bid Documentis posted.
TKO 11.4.1 Guidance1. No document revising the
Bidmay therefore be posted within the 14 days ending on the last day the Bidmay become unconditional as to acceptances.2. TKO Rule 11.2.4 also applies in relation to revised bids. If statements in relation to the value or type of consideration such as "the Bidwill not be further increased" or "our Bidremains at x cents per Shareand it will not be raised" ("no increase statements") are included in documents sent to Targetshareholders, or are made by or on behalf of a Bidder, its Directors, officials or advisers, and not withdrawn immediately if incorrect, then only in exceptional circumstances will the DFSApermit the Bidderto subsequently amend the terms of its Bidin any way, even if the amendment would not result in an increase of the value of the Bid, except where the right to do so has been specifically reserved.
Bidis revised, all shareholders who accepted the original Bidmust be entitled to the revised consideration.
Biddermay introduce new conditions only to the extent necessary to implement an increased or improved Bid.