United States:
SEC Exempts Indian Company From Tender Offer Requirements
13 November 2018
Cadwalader, Wickersham & Taft LLP
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The SEC Division of Corporation Finance granted exemptive relief to Mphasis Limited,
an Indian company, from
Exchange Act Rules 14e-1(a) and
(c) ("Unlawful Tender Offer Practices"). The
exemption will permit Mphasis Limited to (i) keep its tender offer
open for a ten-working-day offer period and (ii) pay for tendered
shares within seven working days after the closing of the tender
offer, in accordance with Indian law.
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