5.
No shares in the acquiring company shall be exchanged for shares in the company being acquired held either: by the acquiring company itself or through a person acting in his or her own name but on its behalf; by the company being acquired itself or through a person acting in his or her own name but on its behalf.
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Source: EUR-Lex (Cellar) · retrieved 2026-10-12 · Text as adopted (Official Journal); later amendments are not incorporated in this text.