RECOMMENDED TRANSLATION: Calque and DT
Обязательное предложение о выкупе (пакетов) акций Obyazatel’noe predlozhenie o vykupe (paketov) aktziy
L.t.: an obligatory offer for the buyout of the (packages) of shares
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The term mandatory bid is translated descriptively in the IFC glossary: предложение об обязательном выкупе (predlozhenie ob objazatelnom vykupe, L.t.: the offer of (about) an obligatory buy-out). In this case the descriptive form is a result of the translation of the term
component “bid”. The following equivalents of the term “bid” can be found in Russian: заявка (на торгах, предлагаемая цена, предложение), предложение цены, предлагаемая цена (Lingvo, Мultitran, Mjuller, Apresjan) (zajavka (na torgah, predlagaemaja cena, predlozhenie), predlozhenie ceni, predlagaemaaa cena: an application (at an auction, a price offered, an offer), the offer of a price, a price offered). Multitran dictionary offers the following equivalents: предложение (о заключении контракта), предложение о покупке (Multitran) (predlozhenie (o zakluchenii kontrakta), predlozhenie o pokupke; L.t.: offer (about contract settlement), offer about buying). Accordingly, the equivalent предложение о выкупе (predlozhenie o vykupe; L.t.: the offer of (about) a buy-out) was chosen to translate the term mandatory bid. The translation triggers a descriptive term form because the term component bid is made explicit with the help of the defining element “обязательный” (objazatelniy: obligatory).
The definition of the English term proves that the use of DT can be considered relevant: “an offer to purchase the remaining shares of a company that a stockholder has to make if he or she acquires at least 30% of that company's stock” (QFC); “an offer to purchase the shares of a company which has to be made when a shareholder acquires 30 per cent of that company's shares” (InvestorWords). These definitions highlight that the semantic component “обязательный” (objazatelniy: obligatory) is not related to the term component “предложение” (predlozhenie: offer), which is why it is essential to make the term component “выкуп” (vykup: buy-out) explicit.
In Ruscorpora,exthame ples attaching the term component “obligatory” to the term component “bid” or “offer” are quite frequent: обязательное предложение о приобретении акций (оbjazatel’noje predlozhenie o priobretenii akciy, L.t.: an obligatory offer for shares acquisition); обязательное предложение о выкупе пакетов акций (оbjazatel’noe predlozhenie o vykupe paketov akciy; L.t.: an obligatory offer for the buyout of the packages of shares); обязательное предложение о продаже акций (obyazatel´noe predlozhenie o prodazhe akciy, L.t.: an obligatory offer for the shares sale) (Ruscorpora) (see the examples in the table 12).
The following example illustrates the use of term component “обязательный” (obligatory) attached to the term component “bid” or “offer”: правило о подаче обязательного
предложения (the mandatory bid rule) (Kutishenko, 2002) (pravilo o podache objazatelnogo predlozhenija: the rule about the application of an obligatory offer).
Nevertheless, the semantic component “acquisition”, which is made explicit in Russian at the expense of other term components: “приобретение”, “выкуп”, “продажа” (acquisition, buyout, sale), makes the Russian term not fixed in the field of Corporate Governance.
In practice, the form of the Russian term is so unstable that a wide range of meanings are made explicit: “приобретение частичного пакета акций (partial bid) и обязательного пакета акций (mandatory bid)” (Fedchuk, 2009) (priobretenie chastichnogo paketa akciy i objazatelnogo paketa akciy; L.t.: the acquisition of partial stock of shares and obligatory stock of shares).
The analysis of Ruscorpora revealed the most frequently used term form in Russian, created using Calque and DT: обязательное предложение о выкупе (пакетов) акций (Ruscorpora) (objazatel’noe predlozhenie o vykupe (paketov) akciy; L.t.: an obligatory offer for the buyout of the (packages) of shares) (see table 12). The term can be recommended as the relevant translation of the English term due to its clear and relatively convenient form for practical use. The term contains all the explicit term components necessary for it to function within the field of Corporate Governance. The term обязательное предложение о покупке (IFC; Academic) (objazatel’noe predlozhenie o pokupke; L.t.: an obligatory offer for a purchase) is not used in Ruscorpora, though it quite frequently appears on the Internet (see table 12), which proves its practical value. The term can be considered as an option for the Russian equivalent of the term mandatory bid provided its form is crystallized in LSP and is represented in Ruscorpora.
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