Series 79 practice questionmediumWilliams Act and Tender Offer Regulation
A tender offer for a public company is subject to a minimum offering period. What is the minimum period required under the Williams Act?
- A2 business days
- B21 calendar days
- C15 business days
- D20 business days✓ Correct answer
Explanation
Why D — 20 business days
Rule 14e-1(a) requires the offer to remain open for at least 20 business days. There is no general 21-calendar-day alternative based on offer method.
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