Self-tender offer


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Self-tender offer

A company that tenders for its own shares.

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 ?
Payment for the shares accepted for purchase under the self-tender offer will be made promptly, at a total cost to the company of $25,000,000, excluding fees and expenses related to the offer.
The 4,000,000 shares the Company has accepted for payment in the self-tender offer represent approximately 15.
as the Depositary for the self-tender offer, and Georgeson, Inc.
The 4,000,000 shares expected to be purchased in the self-tender offer represent approximately 15.
75 per share in cash that was offered in the self-tender offer.
While the Company's Board of Directors has authorized the self-tender offer, it has not, nor has the Company or the dealer manager, the information agent or the depositary for the self-tender offer, made any recommendation to the Company's shareholders as to whether to tender or refrain from tendering their common stock.
The dealer manager for the self-tender offer is Morgan Stanley & Co.
The Board, in conjunction with the Company's financial advisors and management, has determined to continue with the execution of the Company's strategic plan, augmented by a self-tender offer and the divestment of selected properties.
The dealer managers for the self-tender offer are J.
announced today that it has commenced a self-tender offer to repurchase up to 76% of its existing equity at a price of $40 in cash per common share on a fully-diluted as converted basis, but in no event will the aggregate consideration to be paid by NTELOS exceed $440 million.
Acxiom(R) Corporation (Nasdaq:ACXM) today announced preliminary results of its modified "Dutch Auction" self-tender offer, which expired at 5:00 p.