General Rules and Regulations
promulgated
under the
Securities Exchange Act of 1934
Rule 14d-11 -- Subsequent Offering Period
A bidder may elect to provide a subsequent offering period
of three business days to 20 business days during which tenders will be accepted
if:
The initial offering period of at least 20 business
days has expired;
The offer is for all outstanding securities of
the class that is the subject of the tender offer, and if the bidder is offering
security holders a choice of different forms of consideration, there is no
ceiling on any form of consideration offered;
The bidder immediately accepts and promptly pays
for all securities tendered during the initial offering period;
The bidder announces the results of the tender
offer, including the approximate number and percentage of securities deposited
to date, no later than 9:00 a.m. Eastern time on the next business day after
the expiration date of the initial offering period and immediately begins
the subsequent offering period;
The bidder immediately accepts and promptly pays
for all securities as they are tendered during the subsequent offering period;
and
The bidder offers the same form and amount of consideration
to security holders in both the initial and the subsequent offering period.
Note Rule 14d-11:
No withdrawal rights apply during the subsequent offering period in accordance
with Rule 14d-7(a)(2).
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