United States:
SEC Grants Exemptive Relief To Spanish Bank From Certain Tender Offer Requirements
15 August 2019
Cadwalader, Wickersham & Taft LLP
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The SEC Division of Corporate Finance granted a Spanish bank exemptive relief from
certain requirements under
SEA Rule 14e-1 ("Unlawful Tender Offer Practices"),
Rule 14d-10 ("Equal Treatment of Security Holders")
and
Rule 14e-5 ("Prohibiting Purchases outside of a Tender
Offer"). The request for relief concerned transactions
involving exchange offers under U.S., Spanish, and Mexican law.
The content of this article is intended to provide a general
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