Umm, can one of you finance specialists tell me, is this correct?
For example, the United Kingdom’s City Code mandates a strict application of the MBR, where all bids for blocks of 30% or more of the stock must be followed by a bid for the remaining shares at the same price.
I didn\’t think that was strictly true. You can buy a block of shares greater than 29.9% without making a full offer: as long as you buy that block from one seller. Only if you\’ve bought from 2 or more do you have to make that full offer (at the highest price that you\’ve paid for some previous time limit).
Or am I "misremembering"?