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How deals happen

Public takeover / scheme of arrangement

How you buy a company listed on a stock exchange — shareholder votes, regulators, the works.

Step 1 of 7

Meet the players

Buying a listed company involves more than two parties: a bidder, the target and its shareholders, and a regulator or court overseeing the process.

This is a simplified illustration of how a public takeover typically works, not a description of any specific real transaction — real deals vary by jurisdiction and structure. For real examples, read the daily issues.