Best-Price Rule

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Best-Price Rule

An SEC rule stating that that a tender offer (an offer by a company to buy back some of its own shares) must be available to all holders of that class of share and that the highest price paid must be the price paid to all holders who take advantage of the tender offer. This rule exists to ensure fairness and prevent favoritism in tender offers.
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Due to the Swiss best price rule that continues to apply during the six months following the end of the additional acceptance period (December 4, 2014) of the public tender offer, Danaher may not pay more than CHF 17.
Pfizer will pay $49 million to federal and state authorities to settle allegations that two grants made by Warner-Lambert's Parke-Davis division in 1999 to the Ochsner Health Plan of New Orleans should be characterized as rebates, which would entitle the government to a further discount for Lipitor under the Medicaid best price rule.
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