Who does the Williams Act apply to?

The Williams Act requires that companies making a tender offer that is 15% to 20% above the current market price to disclose details of the offer to the Securities and Exchange Commission. The requirements also apply to individuals or institutions that acquire more than 5% of the target company’s outstanding shares.

How long does a tender offer last?

A tender offer must remain open for at least 20 business days after it begins. However, tender offers are often not completed within 20 business days when their conditions are not satisfied within that initial period. Also, an offer must remain open for at least 10 business days after certain material changes.

What does the Williams Act do?

DEFINITION of the Williams Act The Williams Act is a federal law enacted in 1968 that defines the rules of acquisitions and tender offers. It came in response to a wave of hostile takeover attempts from corporate raiders, making cash tender offers for stocks they owned.

What does the Williams Act say?

Known as the “Williams legislation,” the laws seek to ensure that all students have equal access to the basics of a quality education: textbooks, safe and decent school facilities and qualified teachers.

What is a Williams complaint?

Williams Complaints A Williams Complaint, another type of UCP complaint, regards instructional materials, emergency or urgent facilities conditions that pose a threat to the health and safety of pupils, and teacher vacancy or misassignment and may be filed anonymously.

What is the definition of the Williams Act?

DEFINITION of the Williams Act. The Williams Act is a federal law enacted in 1968 that defines the rules of acquisitions and tender offers.

What did the Williams Act of 1968 do?

DEFINITION of the Williams Act The Williams Act is a federal law enacted in 1968 that defines the rules of acquisitions and tender offers. It came in response to a wave of hostile takeover attempts from corporate raiders, making cash tender offers for stocks they owned.

What is the Williams Act and how does it protect shareholders?

Legislators passed the Williams Act and amended the Securities Exchange Act of 1934 to protect affected parties from ongoing takeovers. When a tender offer is made, the bidding company must provide full and fair disclosure to shareholders and financial regulators.

Is the Williams Act relevant in the 21st century?

Most players in the financial industry support a review of the Williams Act to make it relevant in the 21 st century. Since its passage into law over 50 years ago, there have been many changes in the industry that make certain provisions of the act obsolete. Shareholders have become more knowledgeable about mergers and acquisitions.