Self-Tender

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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.

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Buy Back Buyback Callable Common Stock Corporate Repurchase Exclusionary Self-Tender Exclusionary Tender Offer Non-Operating Cash Flow Partial Tender Offer Recapitalization Repurchase of Stock Retired Securities Schedule 13E-4 Self Tender Self-Tender Offer Share Repurchase Share Repurchase Plan Stock Buyback Stock Repurchase Plan Tender Offer			last week announced preliminary results of its modified "Dutch auction" self-tender offer, which expired Sept. Acxiom announces results of self-tender offer by Gordon, James / Arkansas Business Stockholders voted "Against" two proposals submitted by fellow stockholders regarding open-ending or liquidating the Fund (Proposal 2) and conducting a self-tender offer (Proposal 3); Management had recommended voting "Against" these proposals, a position which was supported by RiskMetrics Group ISS ("ISS") and Glass, Lewis & Co. Western Asset Variable Rate Strategic Fund Inc. Announces Results of ... by Business Wire IKON Office Solutions (NYSE:IKN), the world's largest independent channel for document management systems and services, today announced the final results of its modified "Dutch Auction" self-tender offer, which expired at 12:00 midnight, New York City time, on December 19, 2007. IKON Announces Final Results of Tender Offer by Business Wire			self-amortizing mortgage Self-Assessment self-contained appraisal report Self-Correcting Self-Directed IRA Self-Directed Portfolio Self-Directed Retirement Plan Self-Directed RRSP Self-Employed Borrower Self-Employed Contributions Act Self-Employed Income Self-Employed Individuals Self-Employed Taxpayer Self-Employment Self-Employment Income self-employment tax Self-Financing self-help Self-Inflicted Injury Self-Liquidating Bond Self-Liquidating Loan Self-Regulatory Organization Self-Selection Self-Similar Self-Supporting Debt Self-Tender Self-Tender Offer Sell Sell a Spread Sell Away Sell Hedge Sell in May and Go Away Sell limit order Sell Off Sell Order Sell Out Sell Plus Sell Plus Order Sell price Sell Short Sell Side sell signal Sell Stop Order Sell the Book sell the paper Sell the Spread Sell to Close Sell to Open Sell to Rent Sell-Off Sell-Side Analyst			self-sustained Self-Sustained Limbic Status Epilepticus self-sustaining self-sustaining containership Self-Sustaining Lunar Colony Self-Sustaining Systems self-sustaining wall self-sustainingly Self-synchronizing code Self-synchronizing stream cipher self-synchronous device self-synchronous repeater self-system self-systems Self-talk self-tanner Self-tanning Self-tapping Self-tapping Self-tapping self-tapping implant Self-tapping screw Self-tapping screw Self-tapping screw self-taught self-taught art Self-Taxation Self-Teaching Exportable Package Self-Tender Self-tender offer Self-tender offer Self-Tender Offers self-test self-test Self-Testing and Repairing Self-Testing Checker self-theory self-threading pin self-threading pin self-threading pin self-threading pin Self-Timed Carry-Lookahead Adder Self-timer self-timers Self-titled Self-titled Self-titled Self-titled Self-titled debut album Self-titled debut album Self-titled debut album self-tolerance self-tolerance self-tolerance self-tolerance self-torment Self-tormentor self-torture Self-transcendence

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