Best-Price Rule

Best-Price Rule

An SEC rule stating that that a tender offer (an offer by a company to buy back some of its own shares) must be available to all holders of that class of share and that the highest price paid must be the price paid to all holders who take advantage of the tender offer. This rule exists to ensure fairness and prevent favoritism in tender offers.
References in periodicals archive ?
One requested evens and the other two 10-1 but, because of the Betfair best-price rule (which matches bets at the best price available at the time of the request), they got an awful lot more than they bargained for.