Corporate Finance - The Williams Act (Mergers & Acquisitions)

The Williams Act is a 1968 U.S. law that establishes rules for mergers and acquisitions, particularly with respect to tender offers. The Williams Act amends the Securities Exchange Act of 1934 and is intended to protect the shareholders of target firms from coercive offers. The Williams Act requires that a firm making a tender offer disclose (a) the bidder's plans, if successful (e.g., does it plan to liquidate the target?) and (b) the source of the funds used in the offer (e.g., does the bidder plan to borrow the money?). Tender offers must remain open for at least 20 business days so the shareholders of the target company have time to evaluate the offer. To give shareholders advance warning about potential takeover attempts, an investor must file Schedule 13D with the Securities and Exchange Commission if the investor acquires more than 5% of a company's stock. The Schedule 13D filing is also known as the "beneficial ownership report."— Edspira is the creation of Michael McLaughlin, an award-winning professor who went from teenage homelessness to a PhD. Edspira’s mission is to make a high-quality business education freely available to the world. — SUBSCRIBE FOR A FREE 53-PAGE GUIDE TO THE FINANCIAL STATEMENTS, PLUS: • A 23-PAGE GUIDE TO MANAGERIAL ACCOUNTING • A 44-PAGE GUIDE TO U.S. TAXATION • A 75-PAGE GUIDE TO FINANCIAL STATEMENT ANALYSIS • MANY MORE FREE PDF GUIDES AND SPREADSHEETS * http://eepurl.com/dIaa5z — SUPPORT EDSPIRA ON PATREON *https://www.patreon.com/prof_mclaughlin — GET CERTIFIED IN FINANCIAL STATEMENT ANALYSIS, IFRS 16, AND ASSET-LIABILITY MANAGEMENT * https://edspira.thinkific.com — LISTEN TO THE SCHEME PODCAST * Apple Podcasts: https://podcasts.apple.com/us/podcast/scheme/id1522352725 * Spotify: https://open.spotify.com/show/4WaNTqVFxISHlgcSWNT1kc * Website: https://www.edspira.com/podcast-2/ — GET TAX TIPS ON TIKTOK * https://www.tiktok.com/@prof_mclaughlin — ACCESS INDEX OF VIDEOS * https://www.edspira.com/index — CONNECT WITH EDSPIRA * Facebook: https://www.facebook.com/Edspira * Instagram: https://www.instagram.com/edspiradotcom * LinkedIn: https://www.linkedin.com/company/edspira — CONNECT WITH MICHAEL * Twitter: https://www.twitter.com/Prof_McLaughlin * LinkedIn: https://www.linkedin.com/in/prof-michael-mclaughlin — ABOUT EDSPIRA AND ITS CREATOR * https://www.edspira.com/about/ * https://michaelmclaughlin.com