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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.