Focus (Forum & Focus)
Feb. 12, 2008
Return of the Tender offer
Focus Column - By Philip Bush - The SEC's amendment to the 'best-price' rule has made an impact on mergers and acquisitions.
By Philip Bush
This article appears on Page 7.
In late 2006, the Securities and Exchange Commission adopted amendments to the "best-price" rule to clarify that compensatory arrangements with stockholders of the target company in a tender offer do not violate the rule. After the amendments became effective, practitioners were uncertain about whether the rule change would herald the return of the tender offer, wh...
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