U.S. securities laws regulate tender offers for securities of Japanese companies whether or not such securities are registered with the U.S. Securities and Exchange Commission (SEC) if the tender offers have relevant U.S. connections.  This client update discusses U.S. securities law considerations for an all-cash tender offer by a Japanese company for the common stock of another Japanese company, where the target’s securities are not SEC-registered but at least some of the target’s common stock is held by U.S. residents.

This communication, which we believe may be of interest to our clients and friends of the firm, is for general information only. It is not a full analysis of the matters presented and should not be relied upon as legal advice. This may be considered attorney advertising in some jurisdictions. Please refer to the firm's privacy notice for further details.