Check whether a tender offer can still be extended, and the notice the extension requires
Key facts
- Human involvement
- YellowClose supervision
- How AI is used
- Record the scheduled expiration date and any new end date the lawyer proposes. List whether a notice of extension has been issued by press release or other public announcement, whether it discloses the approximate number of securities deposited to date, and whether it is issued no later than the earlier of 9:00 a.m. Eastern time on the next business day after the scheduled expiration, or, if the class is registered on one or more national securities exchanges, the first opening of any one of those exchanges on that next business day. Do not draft the notice.
- What the lawyer must review
- The lawyer applies Rule 14e-1(d). Extending the length of a tender offer without that notice is an unlawful tender-offer practice under the rule. The lawyer also checks that the extended period still meets the twenty-business-day minimum in Rule 14e-1(a) and, if the consideration or the percentage sought changes, the ten-business-day rule in Rule 14e-1(b).
- Written for / version
- United States versionUS
Who does what
| Role | What they do |
|---|---|
| Assistance | Potential support includes preparing preliminary structure or wording and assembling provisional schedules. Confirm the tool’s capability and permitted scope. |
| Lawyer | Set the scope, supervise the work closely, verify every part relied on, resolve omissions and exceptions, and approve the exact output. |
Checklist
- Confirm the output against the client’s instructions and the complete relevant source material, including omissions or contradictions.
- Resolve exceptions and record the responsible lawyer’s approval of the exact output and intended use.