mini-tender offer

(redirected from Mini-Tender Offers)

Mini-Tender Offer

A tender offer for less than 5% of shares outstanding. A tender offer is an offer to buy a significant amount of stock in a publicly-traded company directly from shareholders, an act that bypasses the board of directors. A tender offer may be part of a hostile takeover and therefore any offer exceeding 5% of the company's shares must be registered with the SEC and submitted to oversight. A mini-tender offer avoids this requirement, which can be detrimental to shareholders, as the SEC does not have the ability to protect their rights.

mini-tender offer

An offer to purchase less than 5% of a company's stock. Investors are at greater danger in a mini-tender offer because it is not subject to many of the SEC disclosure and procedural protections that apply to traditional tender offers. For example, tendering shares in a mini-tender offer generally means an investor cannot change his or her mind even though the tender has not closed.
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In a statement to investors, the Securities and Exchange Commission cautioned investors that some bidders make mini-tender offers at below-market prices, saying it believes that these bidders are, "hoping that they will catch investors off-guard if the investors do not compare the offer price to the current market price.
In a statement to investors, the SEC cautioned investors that some bidders make mini-tender offers at below-market prices, saying it believes that these bidders are, "hoping that they will catch investors off-guard if the investors do not compare the offer price to the current market price.
TRC Capital has made many similar mini-tender offers for shares of other companies.
Mini-tender offers are offers to buy less than 5% of outstanding shares of a company.
TRC Capital has made similar mini-tender offers for shares of other companies.
TRC has made many similar unsolicited mini-tender offers for shares of other public companies.
TRC Capital has made many similar unsolicited mini-tender offers for shares of other public companies.
TRC Capital has made similar unsolicited mini-tender offers for shares of other public companies.
htm and NASD's Notice to Members 99-53, issued July 1999, regarding guidance to members forwarding mini-tender offers to their customers, which can be found at www.
Mini-tender offers seek to acquire less than 5% of a company's outstanding shares, thereby avoiding many of the investor protections afforded to larger tender offers, including the filing of disclosure and other tender offer documents with the Securities and Exchange Commission (SEC) and other procedures mandated by US securities laws.
The SEC has cautioned investors that some bidders make mini-tender offers at below-market prices hoping that they will catch investors off guard if the investors do not compare the offer price to the current market price.
Mini-tender offers are designed to acquire less than 5% of a company's outstanding shares, thereby avoiding disclosure and procedural requirements applicable to most bids under Canadian and US securities regulations.