How does a public company go private? Don’t they have to convince all shareholders to sell back their shares?
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It’s in the local listing rules. Above a certain level of purchases the acquirer can force the sale by remaining shareholders. This is called a squeeze out. Usually the offer will remain open long enough to reach that mandatory threshold then a mandatory offer is extended to remaining shareholders. Rules and thresholds differ per exchange. For instance it used to en much more challenging and expensive to buy out remaining shareholders in Germany than in Britain.
https://en.m.wikipedia.org/wiki/Squeeze-out
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