Series 79 practice questioneasySchedule TO and Schedule 14D-9
Which party is responsible for filing Schedule 14D-9 in connection with a tender offer?
- AThe target company✓ Correct answer
- BThe acquirer
- CThe SEC
- DThe target's largest shareholder
Explanation
Why A — The target company
Schedule 14D-9 is filed by the target company to provide its recommendation to shareholders. A common mistake is to assume the acquirer is responsible for this filing, but it's the target's duty.
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