Series 79 practice questioneasySchedule TO and Schedule 14D-9
A Schedule TO is filed by which party in a tender offer?
- AThe bidder making the tender offer✓ Correct answer
- BThe target company's board of directors
- CThe SEC's Division of Corporation Finance
- DThe target company's financial advisor
Explanation
Why A — The bidder making the tender offer
Schedule TO (Tender Offer Statement) is filed with the SEC by the person or entity making the tender offer (the bidder). It must be filed on the date the tender offer is first published, sent, or given to security holders. The Schedule TO discloses material terms of the offer, including the identity of the bidder, source of funds, purpose of the offer, and the terms and conditions of the offer.
Turn it into reps
Reading one answer is not the same as being ready
Lucky the Banker is a free practice app with 995+ Series 79 questions, weak-area tracking, and timed mock exams. No credit card, no paywall.
Spot an error in this question or explanation? Tell us — we fix these fast.
Related M&A, Tender Offers & Restructuring questions
- The board of directors of a target company has received an unsolicited tender offer. Within how many business days must…
- A bidder commences a tender offer at $45 per share for all outstanding shares of TargetCo. After 15 business days, the…
- Which of the following statements about Schedule 14D-9 is correct?
- Under the Williams Act, a tender offer must remain open for a minimum of:
- During a hostile tender offer, the target company's board issues a Schedule 14D-9 recommending that shareholders reject…
- An activist hedge fund has been quietly purchasing shares of a public company and now holds 4.9% of the outstanding…
- The Hart-Scott-Rodino (HSR) Act requires parties to large mergers and acquisitions to notify which federal agency…
- Under Section 13(d) of the Securities Exchange Act, any person who acquires beneficial ownership of more than what…