What is the definition of the offer period?

The offer period is defined as the duration between the public announcement of a takeover bid or offer and the final closing date for that offer. This time frame is crucial because it allows shareholders to consider the terms of the offer, evaluate their options, and make informed decisions regarding whether to accept or reject the bid. During this period, regulatory bodies may also conduct their reviews, but the primary focus is on the shareholders' interactions with the offer itself. Thus, knowing the offer period is vital for understanding the dynamics of takeover bids, including shareholder rights and obligations during that timeframe.