Series 79 practice questioneasyWilliams Act and Tender Offer Regulation
Under the Williams Act, how soon after a material change in the terms of a tender offer must the offer be extended?
- AAt least 10 business days
- BAt least 20 calendar days
- CNo extension is required
- DAt least 10 business days from the date of change✓ Correct answer
Explanation
Why D — At least 10 business days from the date of change
A material change requires the offer to be extended for at least 10 business days from the change, ensuring shareholders have adequate time to respond. Mistaking this can result in regulatory penalties for the offeror.
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