According to the Williams Act,the "fair price" rule stipulates that tendered shares must be purchased on a pro rata basis if too many shares are tendered.

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The "fair price" rule under the Williams Act requires the bidder to offer a fair price to all shareholders in case of a tender offer. It does not stipulate that tendered shares must be purchased on a pro rata basis if too many shares are tendered.

According to the Williams Act,the "Fair Price" Rule Stipulates That