Transmission and publication of the offer document

(1) The offeror must transmit the offer document to BaFin within four weeks after publication of the decision to make an offer. BaFin confirms to the offeror the date of receipt of the offer document. BaFin may, on application, extend the period under the first sentence by up to four weeks where the offeror is unable to meet the period under the first sentence on account of a cross-border offer or necessary capital measures.
(2) The offer document must be published without delay in accordance with the requirements of subsection (3), first sentence, where 1. BaFin has permitted the publication, or 2. ten working days have elapsed since receipt of the offer document without BaFin having prohibited the offer.
(2a) The offer document may not be disclosed before its publication. Before prohibiting the offer, BaFin may extend the period under subsection (2), no. 2 by up to five working days where the offer document is not complete or otherwise does not comply with the provisions of this Act or of a statutory instrument issued under this Act. The period under subsection (2), no. 2 is extended, even after an extension under the second sentence, by five calendar days after BaFin has made a prohibition available for retrieval electronically under section 4f of the Act on the Federal Financial Supervisory Authority or as an electronic document for retrieval under section 4g of the Act on the Federal Financial Supervisory Authority through BaFin's notification and publication system, made it publicly known, or dispatched it by post.
(3) The offer document must be published by 1. notice on the internet, and 2. notice in the Federal Gazette or by making it available for free distribution at a suitable domestic location; in the latter case it must be made known in the Federal Gazette at which location the offer document is made available and at what address the publication of the offer document on the internet under no. 1 has taken place. The offeror must notify BaFin without delay of the publication under the first sentence, no. 2, transmitting the published offer document. The offeror's obligation also exists in the case of a publication or announcement within the meaning of section 12(3), no. 3.
(4) The offeror must transmit the offer document to the management board of the target company without delay after publication under subsection (3), first sentence. The management board of the target company must transmit the offer document without delay to the competent works council or, where none exists, directly to the employees. The offeror must likewise transmit the offer document to its competent works council or, where none exists, directly to its employees without delay after publication under subsection (3), first sentence.