Following a takeover offer for a UK company, the right of the bidder (under section 979 of the Companies Act 2006) to acquire minority shareholdings on a compulsory basis if it has acquired or unconditionally contracted to acquire not less than 90% in value of the shares to which the takeover offer relates and not less than 90% of the voting rights carried by the shares to which the offer relates.

A minority shareholder who has not accepted the offer also has the right to be bought out by the bidder if the bidder has acquired or unconditionally contracted to acquire not less than 90% in value of the target company's shares and not less than 90% of the voting rights carried by the shares (whether by virtue of acceptances of the offer or by other acquisitions of the shares) (also known as a sell-out).

For further information, see Practice note, Buying out minority shareholders and Checklist, Compulsory acquisition procedure: Companies Act 2006.