self-tender


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Related to self-tender: partial 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.

self-tender

An offer by a firm to repurchase some of its own securities from stockholders, generally on a pro rata basis from those shares offered for sale. A self-tender may be preferable to purchase of the securities in the open market because a self-tender is quicker and will not disrupt public trading in the securities. Firms frequently repurchase their own stock from investors holding fewer than a set number of shares in order to eliminate the high cost of servicing small stockholders. A self-tender is similar to a buyback except that buybacks often refer to repurchases from special groups or a few large holders. Also called stock repurchase plan.
References in periodicals archive ?
The proceeds received by the Company from Manor HealthCare will be used in part to pay for the shares purchased by the Company in the self-tender offer.
2, 1993, CACI and the Plaintiffs have agreed that the Company will self-tender for 1,300,000 shares of its Common Stock at a price of $6.
In accordance with the terms and conditions of the self-tender offer, Hennessy Advisors has accepted for purchase a total of 1,000,000 shares of its common stock, representing approximately 17% of its issued and outstanding shares as of August 19, 2015, at a purchase price of $25.
Based on the final count by the depositary for the self-tender offer, a total of 20,710,940 shares of common stock were validly tendered.
Questions regarding this self-tender offer should be directed to the Information Agent at the same number.
NASDAQ: JAKK) (the "Company") today announced the preliminary results of its self-tender offer, which expired at midnight, New York City time, on June 27, 2012.
On December 15, 2010, UBICS announced the completion of its self-tender offer for outstanding shares of its common stock.
Stephen Berman, Chief Executive Officer and President and a Director of the Company, commented that "The Board and management of JAKKS remain committed to their goal of maximizing shareholder value, and are confident that this self-tender is in furtherance of that goal.
announced today the preliminary results of its modified Dutch auction self-tender offer for up to 8.
Announces $23 Per Share Self-Tender Offer for 22% of Company's Shares
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 provided revised information with respect to its previously announced preliminary results of its modified "Dutch Auction" self-tender offer, which expired at 5:00 p.