United States:
SEC Exempts Indian Company From U.S. Tender Requirements
25 October 2018
Cadwalader, Wickersham & Taft LLP
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Subject to certain conditions, the SEC Division of Corporation
Finance granted exemptive relief to Indian company Redington
Limited from
Exchange Act
Rule 14e-1(a) (Unlawful tender offer practices). The exemption
will allow Redington Limited to conduct a partial tender offer
premised on its required compliance with an Indian law mandating a
fixed ten working-day offer period for issuer tender offers, which
will not be extended for U.S. Persons.
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