Check whether an off-market offer period can still be extended
Key facts
- Human involvement
- YellowClose supervision
- How AI is used
- Record whether the bid is an off-market bid and whether the lawyer has marked it as subject to a defeating condition. If a notice under section 630(3) has been published, list which of the four later events the lawyer has marked. Do not calculate a new end date beyond the limit in section 624, and do not draft the extension.
- What the lawyer must review
- The lawyer decides whether section 650C allows the extension and whether the total period still fits section 624.
- Written for / version
- US
Open a jurisdiction version of this task to see which instruments apply: US
Who does what
| Role | What they do |
|---|---|
| Assistance | Record whether the bid is an off-market bid and whether the lawyer has marked it as subject to a defeating condition. If a notice under section 630(3) has been published, list which of the four later events the lawyer has marked. Do not calculate a new end date beyond the limit in section 624, and do not draft the extension. |
| Lawyer | Set the scope, supervise the work closely, verify every part relied on, resolve omissions and exceptions, and approve the exact output. |
Checklist
- Before the offer period ends, an off-market bidder may extend it. That is the general rule in subsection (1).
- After the notice under section 630(3) is published, an extension is allowed only if, after that publication, another person lodges a bidder's statement for securities in the bid class, announces a bid for them, makes offers under a bid for them, or improves the consideration under another bid for them.
- The section's note points back to section 624 for the maximum length of the total offer period. Apply that maximum as well.
Sources
These are suggested working checks. Confirm the required checking with the responsible lawyer before work starts; the checking approach does not establish permission to use AI.