17 CFR 240.14d-8
§ 240.14d-8 Exemption from statutory pro rata requirements.
United States · 17 CFR — Commodity and Securities Exchanges · Status: effective
Cite this
- Citation
- 17 CFR 240.14d-8, § 240.14d-8 Exemption from statutory pro rata requirements, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/69151
- Permanent ID
ys:prov:69151@1- SHA-256
91ad5c25b46f2e355952cc6bfc275b4063fba8616ecc824204352103c6fabaaa
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Full text
Notwithstanding the pro rata provisions of section 14(d)(6) of the Act, if any person makes a tender offer or request or invitation for tenders, for less than all of the outstanding equity securities of a class, and if a greater number of securities are deposited pursuant thereto than such person is bound or willing to take up and pay for, the securities taken up and paid for shall be taken up and paid for as nearly as may be pro rata, disregarding fractions, according to the number of securities deposited by each depositor during the period such offer, request or invitation remains open.
Legislative history
This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.