The Williams Act regulates tender offers only if the target company's stock is publicly traded.

Name: The Williams Act regulates tender offers only if the target company's stock is publicly traded.
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The Williams Act, also known as the Securities Exchange Act of 1968, applies only to publicly traded stocks. It requires certain disclosures and procedures for firms making a tender offer in an attempt to acquire 5% or more of a company's outstanding shares.

The Williams Act Regulates Tender Offers Only If the Target