Series 79 practice questionmediumWilliams Act and Tender Offer Regulation
A Schedule TO must be amended under which of the following circumstances?
- AThere is a material change in the information previously provided✓ Correct answer
- BA non-binding indication of interest is received
- CThe target's board changes its recommendation
- DThe offer is extended by less than three business days
Explanation
Why A — There is a material change in the information previously provided
Material changes to previously filed information require prompt amendment to the Schedule TO. The trap is believing only formal board actions or large extensions require an amendment.
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