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Article 16 - The right of sell-out

Article 16
The right of sell-out

1.Member States shall ensure that, following a bid made to all the holders of the offeree company’s securities for all of their securities, paragraphs 2 and 3 apply.

2.Member States shall ensure that a holder of remaining securities is able to require the offeror to buy his/her securities from him/her at a fair price under the same circumstances as provided for in Article 15(2).

3.Article 15(3) to (5) shall applymutatis mutandis.

Official text · consolidated version 09/01/2024 (in force) Open full page ↗
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