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Where, in the context of a takeover bid launched over a Company whose shares are admitted to trading on a regulated market, the offeror acquires 90% or more of the voting rights corresponding to the share capital and 90% of the share capital, the law grants it the right to implement a squeeze-out procedure in order to become the holder of the remaining shares of the company. This squeeze-out right may be exercised within 3 months from the determination of the results of the Tender Offer, and the consideration for the acquisition of the remaining shares must be paid in cash and comply with the legally required minimum (corresponding to the minimum price of a mandatory Tender Offer or to the price of the voluntary Tender Offer previously launched over the Company).
Following a squeeze-out, the shares of the Company and any securities granting the right to acquire them shall be immediately excluded from trading on a regulated market.
