Series 79 practice questionmediumWilliams Act and Tender Offer Regulation
Under the Williams Act, what is the minimum duration a tender offer must remain open to shareholders?
- A7 calendar days
- BThree business days
- C20 business days✓ Correct answer
- D30 calendar days
Explanation
Why C — 20 business days
Williams Act regulations require that a tender offer remain open for at least 20 business days. Shorter periods would not satisfy regulatory requirements, which exist to ensure adequate time for shareholder consideration.
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