PURPOSE: This rule clarifies the meaning of tender offer as defined in the Missouri Takeover Bid Disclosure Act.

1. (1) A Tender Offer or Request or Invitation for Tenders Within the Meaning of Section 409.500, RSMo. The Missouri Take-over Disclosure Act is a publicly made invitation addressed to all shareholders to tender shares at a given price, characterized by active or widespread solicitation or pressure to accept or reject an offer quickly.

AUTHORITY: section 409.531, RSMo 1986.* Original rule filed March 27, 1989, effective June 12, 1989. *Original authority: 409.531, RSMo 1986.