2005 Minnesota Statutes - 80B.06 — Limitations on offerors.

     80B.06 Limitations on offerors. 


    Subdivision 1.    Uniformity of terms.  No offeror may make a 
 takeover offer which 
 is not made to stockholders in this state on substantially the 
 same terms as the offer is made to stockholders outside this 
 state.  


    Subd. 2.    Right to withdraw equity securities.  An offeror 
 shall provide that any equity 
 securities of a target company deposited or tendered pursuant to 
 a takeover offer may be withdrawn by or on behalf of any offeree 
 at any time within seven days from the date the offer has become 
 effective under sections 80B.01 to 80B.13 and after 60 days from 
 the date the offer has become effective under sections 80B.01 to 
 80B.13, except as the commissioner may otherwise prescribe by 
 rule or order for the protection of investors.  


    Subd. 3.  Repealed, 1Sp1985 c 5 s 20 


    Subd. 4.  Repealed, 1Sp1985 c 5 s 20 


    Subd. 5.    Affect of allegations of securities-related 
 violations.  No offeror may make a takeover offer or acquire 
 any equity securities in this state pursuant to the takeover 
 offer, at any time when any proceeding by the commissioner is 
 pending against the offeror alleging a violation of any 
 provision of sections 80B.01 to 80B.13 or chapter 80A.  


    Subd. 6.  Repealed, 1Sp1985 c 5 s 20 


    Subd. 7.  Repealed, 1991 c 58 s 16 


    HIST: 1973 c 331 s 6; 1974 c 406 s 98; 1984 c 488 s 10; 
 1Sp1985 c 5 s 10