(1) The offeror must, before publication of the offer document, take the necessary measures to ensure that it has available, at the time the claim to the consideration falls due, the funds necessary to fully satisfy the offer. Where the offer provides for payment of a monetary consideration, an investment services enterprise independent of the offeror must confirm in writing that the offeror has taken the necessary measures to ensure that the funds necessary to fully satisfy the offer will be available at the time the claim to the monetary consideration falls due.
(2) Where the offeror has not taken the measures necessary under subsection (1), second sentence, and, for that reason, does not have the necessary funds available at the time the claim to the monetary consideration falls due, whoever accepted the offer may claim from the investment services enterprise that gave the written confirmation compensation for the loss arising from the incomplete satisfaction of the offer.
(3) Section 12(2) to (6) applies accordingly.
Home› Securities & Investment Funds› WpÜG-EN
Section 13
Financing of the offer
←→ also move between sections