An acquisition of a firm through the purchase of shares of the outstanding may be made either by circular bid or by stock exchange bid.

Name: An acquisition of a firm through the purchase of shares of the outstanding may be made either by circular bid or by stock exchange bid.
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An acquisition can be made through a circular bid, where an offer is made directly to the shareholders, or through a stock exchange bid, where shares are purchased on the open market.

An Acquisition of a Firm Through the Purchase of Shares