Write short notes on the following: Acquirer in the Takeover Code.

Regulation 2 (a) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 defines "Acquirer" which means any person who, directly or indirectly, acquires or agrees to acquire whether by himself, or through, or with persons acting in concert with him, shares or voting rights in, or control over a target company. When an acquirer takes over the control or management of the target company', it is termed takeover. When an acquirer acquires "substantial quantity of shares or voting rights" of the target company, it results in a substantial acquisition of shares.