This Solicitation/Recommendation Statement template on Schedule 14D-9 provides guidance and example language for each of the required sections of the Schedule 14D-9. This template contains practical guidance and drafting notes. The disclosures required to be set forth in Schedule 14D-9 under Section 14(d) of the Exchange Act of 1934 ("Exchange Act") and Regulation 14D are intended to provide information to the public about tender offers in connection with friendly or hostile takeovers. In particular, Rule 14e-2 under Regulation 14E requires that the offer remain open for at least twenty (20) business days, ten business (10) days following a change in offering price of percentage of securities, and that within 10 business days of a tender offer, the target of such tender offer shall provide a statement on Schedule 14D-9 to its shareholders. Such statement shall include: (a) whether the target recommends acceptance or rejection of the tender offer; (b) whether the target is remaining ...