SEC Cuts Minimum Tender Offer Period to 10 Business Days for Certain Equity Tender Offers
On April 16, 2026, the Office of Mergers and Acquisitions of the SEC’s Division of Corporation Finance issued an exemptive order reducing the minimum tender offer period from 20 to 10 business days for qualifying equity tender offers. The Order covers three categories of offers: (1) third-party tender offers in negotiated M&A transactions, (2) issuer partial self-tenders, and (3) tender offers for equity securities of non-reporting companies by the issuer or its wholly-owned subsidiary. This Alert provides practical guidance on the Order’s conditions, limitations, and regulatory and deal-structuring implications for public and private companies and their advisors.
Contributor(s)
Co-Head of Governance, Securities & Reporting Group
More from the Governance & Securities Watch
Copyright © 2026 Weil, Gotshal & Manges LLP, All Rights Reserved. The contents of this website may contain attorney advertising under the laws of various states. Prior results do not guarantee a similar outcome. Weil, Gotshal & Manges LLP is headquartered in New York and has office locations in Austin, Boston, Brussels, Dallas, Frankfurt, Hong Kong, Houston, London, Los Angeles, Miami, Munich, New York, Paris, San Francisco, Silicon Valley and Washington, D.C.