Tender offer(redirected from Tender Sale)
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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.