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Often used in risk arbitrage. Takeover bid in which the acquirer offers to pay a set price for all outstanding shares of the target company, or any part thereof; contrasts with two-tier bid.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.
A bid to buy all stock in a company available for sale at the specified price. Any-and-all bids are useful for acquiring companies during hostile takeovers. Rather than working through the board of directors, an acquirer can simply place an any-and-all bid for stock at, say, 10% over its current market price, and buy from any stockholder willing to sell.
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