Conditions are only allowed in voluntary takeover offers; mandatory tender offers cannot be subject to conditions. In voluntary takeover offers, the conditions allowed by the regulations are:
- approval of bylaw amendments by the shareholders' meeting of the target company;
- acceptance of the offer by a minimum number of securities of the target;
- approval of the consideration by the shareholders' meeting of the offering company, when the consideration consists of securities to be issued by such company; and
- any other condition that is considered lawful according to the Central Bank of Uruguay.