{
  "url": "https://openlegislation.uk/eu-directive-2004-25/article-16",
  "json_url": "https://openlegislation.uk/eu-directive-2004-25/article-16.json",
  "legislation": "eudr/2004/25",
  "legislation_title": "Directive 2004/25/EC of the european parliament and of the council of 21 April 2004 on takeover bids (Text with EEA relevance)",
  "legislation_url": "https://openlegislation.uk/eu-directive-2004-25",
  "path": "article/16",
  "kind": "article",
  "number": "16",
  "heading": "The right of sell-out",
  "text": "1. Member States shall ensure that, following a bid made to all the holders of the offeree company’s securities for all of their securities, paragraphs 2 and 3 apply.\n2. Member States shall ensure that a holder of remaining securities is able to require the offeror to buy his/her securities from him/her at a fair price under the same circumstances as provided for in Article 15(2).\n3. Article 15(3) to (5) shall apply mutatis mutandis.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/eudr/2004/25/article/16",
    "retrieved_at": "2026-11-01T15:22:49.979234+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}