Otsepakkumise

Otsepakkumine is an Estonian term referring to a direct offer to purchase shares in a company from its shareholders. It is a form of takeover bid in which a buyer proposes to buy shares directly from holders, often at a premium to the prevailing market price, with the aim of gaining control or influence over the company. Unlike offers negotiated with the target’s board or management, an otsepakkumine is directed at all or a defined group of shareholders and may be made independently of the target’s management’s support.

In practice, the process is governed by applicable securities and corporate law in the relevant jurisdiction. An otsepakkumine typically must disclose essential information such as the offer price, the number and class of shares sought, the acceptance period, and any conditions or prerequisites for the offer. It may also outline the consequences of not meeting conditions and details about how consideration will be delivered. Regulatory rules often require equal treatment of shareholders, disclosure of the bidder’s identity and funding sources, and may set a minimum acceptance threshold or other procedural safeguards.

If a bidder attains a certain stake, many legal systems impose a requirement to make a mandatory offer to remaining shareholders. Otsepakkumine is a common instrument in markets with publicly traded companies and active share ownership, and it plays a central role in corporate control transactions. See also related concepts such as takeover bids and tender offers.