Tender offer

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Tender offer

General offer made publicly and directly to a firm's shareholders to buy their stock at a price well above the current value market price.

Tender Offer

An offer to buy some or most of the stock in a publicly-traded company directly from shareholders for a price well above fair market value. A tender offer may be made by the company's management in a bid to prevent a hostile takeover. Alternatively, it may be a made by an outside company as part of a hostile takeover. See also: Self-Tender Offer.

tender offer

An offer made directly to stockholders to purchase or trade for their securities. A tender offer often contains restrictions such as the minimum number of shares required to be tendered for the offer to be effective or the maximum number of tendered shares that will be accepted. A tender offer may be made by a firm to its own shareholders to reduce the number of outstanding shares, or it may be made by an outsider wishing to obtain control of the firm. Compare hostile tender offer. See also creeping tender offer, exclusionary tender offer, mini-tender offer, partial tender offer, self-tender, two-tier tender offer, Williams Act.

Tender offer.

When a corporation or other investor offers to buy a large portion of outstanding shares of another company, called the target company, at a price higher than the market price, it is called a tender offer.

The tender is usually part of a bid to take over the target company. Current stockholders, individually or as a group, can accept or reject the offer.

If the tender offer is successful and the corporation accumulates 5% or more of another company, it has to report its holdings to the Securities and Exchange Commission (SEC), the target company, and the exchange or market on which the target company's shares are traded.

References in periodicals archive ?
The tender offers and consent solicitations relating to the Notes are made upon the terms and conditions set forth in the Offer to Purchase and the related Consent and Letter of Transmittal, as heretofore amended and as amended hereby.
The tender offers and consent solicitations relating to the Notes are being made upon the terms and conditions set forth in the Offer to Purchase and Consent Solicitation Statement dated December 26, 2006 (the "Offer to Purchase") and the related Consent and Letter of Transmittal, as amended.
The tender offers and consent solicitations relating to the Notes are being made upon the terms and conditions set forth in the Offer to Purchase and the related Consent and Letter of Transmittal, as heretofore amended and as amended hereby.
and Merrill Lynch, Pierce, Fenner & Smith Incorporated to act as the lead Dealer Managers and Solicitation Agents for the tender offers and consent solicitations, and they can be contacted at (877) 686-5059 (toll-free) ((212) 357-0775 (collect)) and (888) 654-8637 (toll-free) ((212) 449-4914 (collect)), respectively.
Each of Credit Suisse Securities (USA) LLC and Citigroup Corporate and Investment Banking has been retained as a Dealer Manager in connection with the tender offers and as a Solicitation Agent in connection with the consent solicitations.
Each tender offer is subject to the conditions set forth in the Offer Documents including the receipt of consents of the noteholders representing a majority in aggregate principal amount or principal amount at maturity, as applicable, of each of the Buffets Holdings Notes and the Buffets Notes and is conditioned upon the Companies obtaining the financing necessary to pay for their respective Notes and consents in accordance with the terms of the tender offers and consent solicitations.
The tender offers are being made only through the applicable Offer to Purchase and related materials.
Tenders of Notes prior to the Consent Date may be validly withdrawn and consents may be validly revoked at any time prior to the Consent Date, but not thereafter unless the tender offers and the consent solicitations are terminated without any Notes being purchased.
Questions regarding the tender offers and consent solicitation should be directed to Lehman Brothers at (212) 528-7581 or toll free at (800) 438-3242.
Incorporated and Citigroup Corporate and Investment Banking to act as dealer managers and solicitation agents in connection with the tender offers and consent solicitations.
The terms and conditions of each of the tender offers for the Notes appear in the offers to purchase attached as exhibits to the Schedule TOs filed earlier today by NACI and Washington Mutual, Inc.