An SEC rule prohibiting a company that has made a tender offer or an exchange offer for another company's stock or bonds from acquiring the stock or bonds by any other means until the offer expires. This rule exists to help ensure fair play in the market.
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An SEC rule that prohibits persons who make a tender or an exchange offer from acquiring the security from other sources until the offer has expired.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.