Self-tender offer

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Self-tender offer

A company that tenders for its own shares.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
References in periodicals archive ?
Announces Final Results of Self Tender Offer for Shares of Common Stock
Truett-Hurst announced that it has extended the expiration of its previously announced self tender offer to purchase up to 1M shares of its Class A common stock, including shares issued upon exchange of limited liability company interests of its subsidiary H.D.D., LLC, or such lesser number of shares of its Class A common stock as are properly tendered and not properly withdrawn, at a price of $2.40 per share of Class A common stock, to the seller in cash, less any applicable withholding taxes and without interest.
The company said that the distribution will be via a repurchase of shares from its shareholders through a self tender offer and/or a cash dividend, subject to the satisfaction of some conditions such as the approval of the Tel Aviv District Court.
TELECOMWORLDWIRE-August 30, 2016-Metalink to distribute cash to shareholders via self tender offer
Specifically, Mangrove's obligation to acquire shares pursuant to the tender offer was subject to various terms and conditions specified in Mangrove's original offer to purchase, dated as of 22 March 2016, and a supplement to the original offer to purchase and the related amended letter of transmittal, dated as of 15 April 2016, which included a condition that Mangrove can terminate the tender offer if ASTA has not cancelled its "Dutch Auction" Self Tender Offer.
BANKING AND CREDIT NEWS-August 13, 2015-National Bank Holdings reports self tender offer results
Grubb & Ellis Company recently announced that its board of directors has approved a self tender offer of up to seven million shares (or approximately 35%) of the company's outstanding common stock at a price of $7 per share.
Announces Preliminary Results of Self Tender Offer for Shares of Common Stock
M2 EQUITYBITES-August 30, 2016-Metalink to distribute cash to shareholders via self tender offer
Also, the Funds said that if completed, RAP and RIF will become a single closed end fund and if RAP shareholders approve their merger related proposals, RAP will make a self tender offer for up to 20% of its outstanding common shares before the merger closes.
Diversified, closed-end investment company The European Equity Fund Inc (NYSE:EEA) began a self tender offer to buy up to 5% of its outstanding common shares under its Offer to Repurchase and the related Letter of Transmittal were being mailed to stockholders as of Friday, the company stated the same day.
Raymar, "Dutch auction versus fixed-price self tender offers for common stock," Journal of Financial Intermediation, vol.