SEC Issues Exemptive Relief for Tender Offers for Equity Securities

On April 16, 2026, the SEC’s Division of Corporation Finance issued an exemptive order permitting certain tender offers for equity securities to remain open for as few as 10 business days rather than the current 20-business-day minimum under Exchange Act Rules 13e-4(f)(1)(i) and 14e-1(a). The Division said the relief is intended to address market inefficiencies, reflect technological developments and reduce exposure to market fluctuations, while remaining consistent with investor protection... By: Proskauer - Regulatory & Compliance