The Capital Markets (Take-Overs and Mergers) Regulations
12. Offer to dissenting shareholders
12. Offer to dissenting shareholders
Where a take-over results in the offeror acquiring ninety percent of the offeree's voting shares, the offeror shall offer the remaining shareholders a consideration that is equal to the prevailing market price of the voting shares or the price offered to the other holders, whichever is higher and the provisions of the Companies Act (Cap. 486) shall apply.Source: Kenya Law