November 4, 2022

SEC Grants No-Action Relief to Allow Canadian Oil Company to Conduct Tender Offer

The SEC Division of Corporate Finance staff granted no-action relief to a Canada-based oil company which would allow it to conduct a tender offer in the United States in accordance with Canadian law.

The SEC granted the company an exemption under Exchange Act Rule 13e-4(f)(3) ("Tender offers by issuers"). The exemption permits the company to provide a proportionate tender option in its modified Dutch auction tender offer.

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