According to the Williams Act,the tender offer cannot be closed before twenty (20)business days after the commencement of the tender offer.

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The Williams Act requires a waiting period of at least twenty (20) business days after the commencement of the tender offer before it can be closed. This waiting period is intended to give shareholders adequate time to evaluate the offer and make an informed decision. Failure to comply with this requirement can result in legal action and penalties.

According to the Williams Act,the Tender Offer Cannot Be Closed