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Takeover Offeror Report Regarding Participating Broker-Dealer And Affiliate Transactions With The Target Company Form. Security holders of the target need information about the issuer whose securities they will receive if the transaction is consummated, which really means.(A) the affiliate is a separate and distinct legal person from any member participating in the offering and is not registered as a broker-dealer;. "Broker-dealer" means a person engaged in the business of effecting transactions in securities for the account of others or for the person's own account. This Guide focuses on take-private transactions, and the reader may wish to reference our firm's Takeover. "Broker-dealer" means a person engaged in the business of effecting transactions in securities for the account of others or for the person's own account. Participation in Affiliated Limited Offerings . E4. Notes on Rule 4.6. The Target Company or party selling assets or Securities in a Business. The amount of allowance related to loans evaluated under ASC Subtopic 310-30, Receivables –Loans and.