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SEC Grants Tender Offer Relief to Swedish Tobacco Company

The SEC Division of Corporation Finance granted a Sweden-based tobacco company no-action relief from SEA Rule 14e-1(c)-(d) ("Unlawful tender offer practices") and Rule 14e-5 ("Prohibiting purchases outside of a tender offer").

The relief permits the company to (i) make purchases outside of the tender offer, (ii) provide a notice of extension of the tender offer in accordance with Swedish law and (iii) pay for tendered securities within the timeframe described in the incoming letter and in accordance with Swedish law.

Primary Sources

  1. SEC Exemptive Order: Swedish Match AB
  2. SEC Release: Swedish Match AB: Request for Relief under Exchange Act Rules 14e-1(c), 14e-1(d) and 14e-5
  3. SEC Incoming Letter: Swedish Match AB

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Tags

Regulated Activities
Cross-Border Exchange and Tender Offers
Regulated Entities
Issuers of Securities
Sub-Entity
SEC-Registered Issuers
Body of Law
Securities Law
Jurisdiction
US - Federal
Impacted Foreign Jurisdiction
Sweden
Organization
SEC
Sub-Author
SEC Corp. Fin.