In corporate takeovers, the offerors will be left in a bind if they end up with more than 75% but less than 90% of the shares in the target companies. This would leave the offeror with the task of either placing out some shares to meet Bursa Malaysia’s free float requirement or increasing the offer price in the hope of reaching a higher acceptance level of 90% or more. Either way, it can be an arduous exercise. Raising the offer price can be painful on the pockets of the offeror while placing out shares in a highly illiquid company is not easy.