SEC allows SM Land to extend tender offer

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The Securities and Exchange Commission has allowed SM Land to extend
its tender offer for the shares of SM Development Corporation (SMDC)
to give its shareholders extra time to comply with documentary
requirements.

This tender offer is in line with SM Group’s plan to consolidate some
of its property businesses into one real estate giant.

In a memorandum filed by the SEC, it reported that it has already
given its go signal to SM Land to extend its tender offer period up
until August 2 instead of July 9.

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