Series 79 practice questioneasySchedule TO and Schedule 14D-9
Which of the following triggers a material amendment to Schedule TO, requiring prompt disclosure?
- AA small change in the acquirer’s board
- BA one-day extension of the offer period
- CA routine quarterly earnings announcement
- DMaterial change in offer terms, price, or shares sought✓ Correct answer
Explanation
Why D — Material change in offer terms, price, or shares sought
A material change in offer terms requires prompt amendment. Trap answers list minor or unrelated events that do not require Schedule TO amendments.
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