HR 5693 · 98th Congress · Finance and Financial Sector
Tender Offer Reform Act of 1984
Bill Progress
✓
Introduced2
Committee3
House Vote4
Senate5
EnactedLatest: Placed on Union Calendar No: 579.(1984-09-17)
Plain Language Summary
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Tender Offer Reform Act of 1984 - Amends the Securities Exchange Act of 1934 to change the deadline for submission of statements by a person acquiring more than a certain amount of specified classes of securities from within ten days of acquisition to within such time as the Securities and Exchange Commission shall prescribe. Permits the Commission to restrict or prohibit any person subject to such reporting requirements from acquiring, directly or indirectly, beneficial ownership of any additional shares of the equity security that is the subject of such a statement for up to two business days after the filing of the statement. Provides that when two or more persons act as a partnership, limited partnership, syndicate, or other group for the purpose of voting such group shall be deemed a person. Makes it unlawful, when certain conditions exist during a tender offer for any class of securities, for an issuer to: (1) enter into or amend agreements that increase the current or future compensation of any officer or director; (2) acquire any of its securities, except for routine acquisitions of securities through ongoing programs; or (3) grant voting power or issue any combination of s…
Summarized by Claude AI · Non-partisan · For informational purposes only
Cosponsors (9)
8 Democrats1 Republican