Self Tender

Self Tender

A company buys back a certain percentage of its own shares through a tender offer.

Self-Tender Offer

A firm's offer to buy back its own stock for a price well above fair market value. A self-tender offer usually excludes a targeted number of shareholders; it is not intended to stop trade on its stock. Rather it is an attempt to prevent a real or suspected hostile takeover. If a firm becomes its own majority or plurality shareholder, it either makes a hostile takeover impossible or much more expensive for the company attempting to buy it out. See also: Antitakeover measure.
References in periodicals archive ?
Other items affecting earnings per share include Acxiom's expected completion of the Dutch Auction Self Tender (a stock buy-back program), interest on an $800 million credit facility and a higher effective tax rate.
On July 18, 2002, Netro Corporation announced that it would return to its shareholders up to $100 million of its approximately $278 million in cash through a combined self tender and open market purchase of its stock.
The information in this press release describing Activision Blizzard's self tender offer is for informational purposes only and does not constitute an offer to buy or the solicitation of an offer to sell shares of Activision Blizzard's common stock in the self tender offer.
This self tender would leave the company with more than enough money to fund all but the most egregious empire building by the current CEO.
Morgan said he and Ubben agreed that Acxiom's $300 million Dutch auction self tender offer is the right decision for the Company and its shareholders.
Nasdaq: GOSHA) announced today that preliminary accounting by Harris Trust & Savings Bank, the depository for the Company's "Dutch auction" self tender offer which expired on November 2, 1999, indicates that, subject to final verification, 3,499,697 shares of Class A common stock and 6,805 shares of Class B common stock have been accepted for purchase at a price of $21.
com (under Investor Relations/News) the Board report to the extraordinary shareholders' meeting convened on 21 June, 2006 to approve the self tender offer.
4 million shares purchased in the Company's Dutch auction self tender was $92.
Engelhard has committed financing, subject to customary conditions, from Merrill Lynch and JPMorgan to initially fund the $45 per share self tender.
50 to $94 per share in a Dutch auction self tender offer that expired October 23, 1997.
Following the termination of the subsequent offering period, the final results of the Company's self tender offer show that a total of 5,125 shares of voting common stock were validly tendered in the subsequent offering period, representing approximately 16.
975 million shares of QFC common stock and QFC will commence a self tender offer to acquire up to 7 million shares of QFC common stock at $25 per share in cash.