Stock exchange price of a share calculated by the regulatory authorities in the case of takeovers. As a rule, the weighted average stock market price of the past three months is used. – See Börsensachverständigen-Kommission, Fair Value, Mergers and Acquisitions, Mark-to-Model Approach. – Cf. 2001 Annual Report of the Federal Supervisory Office for Securities Trading, p. 26, 2005 Annual Report of BaFin, p, 170 et seq. (basic and current information on corporate takeovers), 2009 Annual Report of BaFin, p. 203 (deviation from the three-month period in the course of the takeover of HRE due to the Financial Market Stabilization Supplement Act) and the respective Annual Report of BaFin, chapter “Supervision of Banks, Financial Service Providers and Payment Institutions”.
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