Series 79 practice questioneasySchedule TO and Schedule 14D-9
Under SEC rules, when a tender offer is made, which document must the target file to communicate its position and recommendation on the offer to shareholders?
- ASchedule 13D
- BSchedule 14D-9✓ Correct answer
- CSchedule 13G
- DSchedule 13E-3
Explanation
Why B — Schedule 14D-9
The target files a Schedule 14D-9 to state its recommendation regarding the tender offer. Schedule 13D and 13G are used for beneficial ownership reporting, not tender offer recommendations.
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