(1) In this Part, a “takeover offer” means an offer to acquire by or on behalf of a company or individual (“the offeror”)—
(a) all the shares, or all the shares of any class, in a company (“the offeree company”) other than shares which at the date of the offer are already held by the offeror; or
(b) such shares in the offeree company which will result in the offeror acquiring effective control of the offeree company.
(2) For the purposes of subsection (1), “acquiring effective control” means the acquiring of shares in an offeree company which (together with shares, if any, already held by the offeror or by any other person that is deemed by virtue of section 143 to be related to the offeror) carry the right to exercise, or control the exercise of, more than 50% of the rights attached to the voting shares of the offeree company.