ARTICLE
14 February 2019

SEC Grants UK-Based Company Exemption From Tender Offer Rules

CW
Cadwalader, Wickersham & Taft LLP

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Cadwalader, established in 1792, serves a diverse client base, including many of the world's leading financial institutions, funds and corporations. With offices in the United States and Europe, Cadwalader offers legal representation in antitrust, banking, corporate finance, corporate governance, executive compensation, financial restructuring, intellectual property, litigation, mergers and acquisitions, private equity, private wealth, real estate, regulation, securitization, structured finance, tax and white collar defense.
The SEC Division of Corporation Finance granted an exemption to a UK-based company from an Exchange Act rule barring purchases outside of a tender offer.
United States Corporate/Commercial Law

The SEC Division of Corporation Finance granted an exemption to a UK-based company from an Exchange Act rule barring purchases outside of a tender offer. The exemption permits the company to "purchase, or arrange to purchase, Shares outside the Offer in accordance with English law."

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