Title

Corporate Regulatory Report
A Summary of Current Regulatory Developments Affecting Publicly Listed Companies

Created date

11/1/2006

On November 1, 2006, the SEC issued final rules containing amendments to the tender offer best-price rule, which requires that all shareholders be paid the same price in a tender offer. The amendments, which are effective as of December 8, 2006, make it clear that the best-price rule generally does not apply to compensatory arrangements.