What Is A 13-D?

A 13-D is a form that must be filed with the SEC whenever an individual, company or fund acquires a greater-than-5% stake in another company. This is measured by shares outstanding on the market. Some examples of when a 13-D form would be required are:

  • An acquisition of Yahoo by Microsoft
  • WarrenBuffettbuying a greater-than-5% stake inBank of America
  • A hedge fund taking a large position (again, greater than 5% of the shares outstanding) in a company

13 d的10天内必须提交成交方式代码表tion taking place and must also detail any parties with the power to sell the stake. In case the company in question is unaware of it's shares being bought in such a large quantity, they will be notified along with the exchange upon which it is traded after the 13-D has been filed with the SEC.

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