The offer date for Pilgrims Pride offer is scheduled for September 29, 2006. Offer commences, signaled by the mailing of an offer to target stockholders and/or placement of a tombstone ad in the national editions of the Wall Street Journal or The New York Times. Shares during the entire period the equity tender offer remains open. In addition, security holders have withdrawal rights and may withdraw tendered
Also, an offer must remain open for at least 10 business days after certain material changes. However, tender offers are often not completed within 20 businessĭays when their conditions are not satisfied within that initial period. A tender offer must remain open for at least 20 business days after it begins. If there is a mailing to stockholders, it will be sent to all holders. List or directly mail the offer to purchase to its stockholders. To enable a bidder to send the offer documents to the target company shareholders, the target may either provide the bidder with a shareholder A Schedule 14D-9 (see Key Documents below) must be filed with the SEC on the date the recommendation is first published, sent orĭissemination of information. Statement to its security holders disclosing the target companys position with respect to the offer. Within 10 business days of the commencement of a tender offer, the target companys board of directors must disseminate a The bidder must deliver a copy of the Schedule TO to the target company, any other bidder that has filed a Schedule TO for an outstanding offer, and to each national securities exchange on which the target companys A bidder must, as soon as practicable on the commencement date of the tender offer, file a Schedule TO with the SEC (see Keyĭocuments below). Some of the other basic legal requirements and considerations of tender offers include:
A tender offer must comply with the rules and regulations of the SEC, which include certain disclosure requirements, minimum offering periods, withdrawal rights, manner of Purchase is printed and mailed to the target companys stockholders. Typically, a tender offer is commenced when the company making the offer the bidder places a summary advertisement, or tombstone, in a major national newspaper and the offer to Send us feedback about these examples.Bid for stockholders to sell their stock. These examples are programmatically compiled from various online sources to illustrate current usage of the word 'legal tender.' Any opinions expressed in the examples do not represent those of Merriam-Webster or its editors. 2023 The cash crunch threw a spanner in the works of Nigeria’s $220 billion informal economy, prompting Buhari to extend the use of old naira notes as legal tender alongside the new ones until April 10. Santiago Pérez, WSJ, Nigeria’s cash-dependent informal sector, which by one estimate makes up almost 58 percent of its economy, has been badly hit by people not having access to legal tender. 2023 Early this year, the IMF urged El Salvador to strip bitcoin of its status as legal tender because of its risks to financial stability. 2021 Although under a vastly different circumstance, El Salvador has managed to recognize bitcoin as legal tender, integrating bitcoin into the nation’s monetary system, without losing the benefits of traditional banking. 2022 India does not recognize Bitcoin as legal tender. Scott Nover, Quartz, El Salvador, the first country to adopt bitcoin as legal tender, purchased 410 bitcoin for $15 million Friday with the currency trading at its lowest point in six months, President Nayib Bukele announced on Twitter. 2022 The International Monetary Fund, which is negotiating with El Salvador over a $1.3 billion loan, issued a report in January strongly urging the country to drop bitcoin as legal tender.
Recent Examples on the Web The prospect of financing from the International Monetary Fund is tenuous, with the organization urging the Bukele administration to reverse its decision to accept Bitcoin as legal tender.
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