Series 79 practice questioneasySchedule TO and Schedule 14D-9
If a target board recommends that shareholders accept a tender offer, where must this recommendation be disclosed?
- ASchedule TO
- BSchedule 14D-9✓ Correct answer
- CSchedule 13D
- DForm 8-K
Explanation
Why B — Schedule 14D-9
The board's recommendation is disclosed in Schedule 14D-9, not the acquiring party's Schedule TO. Confusing these forms could result in missed filing obligations or sanctions.
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