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Article: Tender Offer Considerations For Cash Repurchases And Exchange Offers (Part 1).
- Article from:
- Mondaq Business Briefing
- Article date:
- July 9, 2009
- Author:
CopyrightCOPYRIGHT 2009 Mondaq Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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A key consideration in developing any liability management strategy is the extent to which the SEC's tender offer rules apply to contemplated transactions, given that these rules can substantially affect the manner in which a transaction is conducted, the timing of the transaction, as well as the issuer's ability to conduct other transactions in its securities around the time of the tender offer. The tender offer rules can apply when a company is offering securities and/or cash for its outstanding securities, and the level of regulation of the offer (in terms of timing and mandated procedural protections) varies depending on the type of security that is the subject of the ...