Series 79 practice questionmediumTender Offer Rules
Under SEC tender offer rules, which of the following statements about the subsequent offering period is correct?
- AShares tendered during this period can be withdrawn at any time.
- BThe offeror may lower the offer price during the subsequent offering period.
- CA subsequent offering period is required for all tender offers.
- DShares tendered during a subsequent offering period cannot be withdrawn.✓ Correct answer
Explanation
Why D — Shares tendered during a subsequent offering period cannot be withdrawn.
During the subsequent offering period, shares tendered are irrevocable and cannot be withdrawn. It's important not to confuse this with the initial offer period, where withdrawal is allowed.
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