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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TRC Capital has made similar unsolicited mini-tender offers for shares of other public companies.
The SEC has cautioned investors about mini-tender offers, noting 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 with the current market price.
Mini-tender offers are designed to seek less than 5% of a
As a result, mini-tender offers do not provide investors with the same level of protections as provided by larger tender offers under United States securities laws.
TRC Capital has made similar mini-tender offers for shares of other companies.
multitude of below-market mini-tender offers for the shares of other companies
TRC has made many similar mini-tender offers for shares of other companies.
The SEC has issued an investor alert regarding mini-tender offers, noting 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.
TRC Capital has made many similar mini-tender offers for shares of other companies.
On its Web site, the SEC notes that mini-tender offers "have been increasingly
Mini-tender offers are devised to seek less than 5 percent of a
The Canadian Securities Administrators ( CSA ) have expressed serious concerns about mini-tender offers such as the possibility that investors might tender to a mini-tender offer based upon a misunderstanding of the terms of the offer, including the per securities price available under the offer relative to the market price of such securities.