Tender offer

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Tender offer

General offer made publicly and directly to a firm's shareholders to buy their stock at a price well above the current value market price.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

Tender Offer

An offer to buy some or most of the stock in a publicly-traded company directly from shareholders for a price well above fair market value. A tender offer may be made by the company's management in a bid to prevent a hostile takeover. Alternatively, it may be a made by an outside company as part of a hostile takeover. See also: Self-Tender Offer.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

tender offer

An offer made directly to stockholders to purchase or trade for their securities. A tender offer often contains restrictions such as the minimum number of shares required to be tendered for the offer to be effective or the maximum number of tendered shares that will be accepted. A tender offer may be made by a firm to its own shareholders to reduce the number of outstanding shares, or it may be made by an outsider wishing to obtain control of the firm. Compare hostile tender offer. See also creeping tender offer, exclusionary tender offer, mini-tender offer, partial tender offer, self-tender, two-tier tender offer, Williams Act.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.

Tender offer.

When a corporation or other investor offers to buy a large portion of outstanding shares of another company, called the target company, at a price higher than the market price, it is called a tender offer.

The tender is usually part of a bid to take over the target company. Current stockholders, individually or as a group, can accept or reject the offer.

If the tender offer is successful and the corporation accumulates 5% or more of another company, it has to report its holdings to the Securities and Exchange Commission (SEC), the target company, and the exchange or market on which the target company's shares are traded.

Dictionary of Financial Terms. Copyright © 2008 Lightbulb Press, Inc. All Rights Reserved.
References in periodicals archive ?
The Company has been informed by the depositary that the proration factors for the tender offers are approximately 23.7% and 22.4%, respectively, for the Class B tender offer and Class C tender offer.
Each of the Tender Offers will expire at 11:59 P.M., New York City time, on July 10, 2017, unless extended (such date and time, as it may be extended, the "Expiration Date") or earlier terminated by the company in accordance with the terms of the Offer to Purchase.
Morgan Securities LLC are the dealer managers for the tender offers.
The first group includes traditional insiders (such as the offering company, the target company and their respective officers, directors, partners, employees, advisers and anyone acting on their behalf) plus each person who gets material information about the tender offer and knows or has reason to know the information is nonpublic.
Rights will be considered similar only if the principal purpose for the adoption of the plan providing for the rights is to establish a mechanism by which a publicly held corporation can subsequently provide shareholders with rights to purchase stock at substantially less than fair market value as a means of responding to unsolicited tender offers. Excepting poison pill rights from the option attribution rules is effective for all poison pill rights, regardless of a plan's adoption date.
These results indicate that 19,664,945 ordinary shares, reportedly representing 95.37% of the voting rights and the share capital of ILOG on an issued and outstanding basis as of 24 November 2008, have been tendered into the tender offers.
As a result, mini-tender offers do not provide investors with the same level of protections provided by larger tender offers under US securities laws, AEP said.
M2 EQUITYBITES-February 5, 2019-IMH Financial reports final results of tender offers