Best-Price Rule

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Best-Price Rule

Definition

A requirement imposed by Securities and Exchange Commission Rule 14d-10 which prohibits tender offerors from offering a higher price to some target shareholders than it offers to others. The best-price rule requires the offeror to purchase all shares under the same tender offer at the same price.

Related rules

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— Field v. Trump

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— Gerber v. Computer Associates Int'l, Inc.

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