Series 79: Unlawful Tender Offer Practices

Taken from our Series 79 Top-off Online Guide

Unlawful Tender Offer Practices

Rule 14e-1 designates as unlawful certain tender offer practices. These unlawful practices include:

  • Holding a tender offer open for less than 20 business days
  • Changing (1) the percentage of securities sought by more than 2% or (2) the price offered, unless the tender offer remains open for at least 10 business days after notice of the chang

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