SEC Shortens Minimum Equity Tender Offer Period to 10 Days

On April 16, 2026, the U.S. Securities and Exchange Commission’s (the SEC) Division of Corporation Finance (CorpFin) issued an exemptive order (the Order) permitting certain tender offers for equity securities to remain open for a minimum of 10 business days, rather than the 20 business days ordinarily required under Rules 13e-4(f)(1) and 14e-1(a) of the Securities Exchange Act of 1934 (the Exchange Act). The Order is the latest step in the SEC’s broader effort to modernize the mergers &... By: Lowenstein Sandler LLP