SEC Exempts Indian Company from U.S. Tender Requirements
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.