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 ?
The board of directors of Mylan NV (NASDAQ:MYL)(TASE:MYL) on Monday declared the repurchase of up to USD1bn of its ordinary share in the open market through privately-negotiated transactions or in one or more self tender offers.
Raymar, "Dutch auction versus fixed-price self tender offers for common stock," Journal of Financial Intermediation, vol.
Diversified, closed-end investment companies, the European Equity Fund Inc (NYSE:EEA) and The New Germany Fund Inc (NYSE:GF) (together the Funds) began self tender offers under the terms and conditions in each one's Offer to Repurchase and the related Letter of Transmittal being mailed to stockholders on Wednesday, the company stated that same day.