SEC Issues No-Action Relief Regarding Pricing Mechanism for Tender Offer
The SEC Division of Corporation Finance issued no-action relief to Group 1 Automotive Inc. from Exchange Act Rules 13e-4(d)(1) ("Disclosure of Tender Offer Information to Security Holders"), 13e-4(f)(1)(ii) ("Manner of Making Tender Offer") and 14e-1(b) ("Unlawful Tender Offer Practices") if Group 1 Automotive should conduct a tender offer using the Volume Weighted Average pricing mechanism, as described in the incoming letter.