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.

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.

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.

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.

References in periodicals archive ?
In the tender offer, DNA's shareholders are offered a cash consideration of EUR 20.90 for each share.
In addition, holders whose Notes are purchased in the Tender Offer will receive accrued and unpaid interest from the last interest payment date to, but not including, the Settlement Date (as defined in the Offer to Purchase) for the applicable Notes.
Consummation of the tender offer remains subject to the conditions described in the Tender Offer Statement, including that there be validly tendered and not withdrawn at least 75,471,655 of Coty Inc shares and receipt of regulatory clearance in Russia.
Because the tender offers were oversubscribed, shares were accepted from tendering shareholders on a pro rata basis (other than with respect to tendering odd lot holders whose entire tender was accepted pursuant to the terms of the tender offers so that the Company has accepted for purchase 477,170 Class B Shares and 22,830 Class C Shares.
There were 20,004,934 shares of Ci:z Holdings Co tendered in the tender offer, representing 41% of its outstanding shares.
'The change of purpose for the tender offer is aimed at alleviating certain investors' concerns that the potential delisting may exert undue pressure on their decision process related to the acceptance of the tender offer.
MRP said the new Tender Offer period "will be stated in the Amended Tender Offer Report to be filed by the Bidder to reflect, among other things, the amended purpose of the Tender Offer and the updated Tender Offer schedule."
Based on the preliminary count by the tendering agent for the tender offer, a total of approximately 11,063,469 of FLY's common shares held in the form of American Depositary Shares were validly tendered and not validly withdrawn pursuant to the tender offer, including approximately 1,078,288 Shares that were tendered through notice of guaranteed delivery.
To the extent that acceptances of all validly tendered notes would require AMD to purchase more than $800,000,000 in aggregate principal amount of notes in connection with the tender offer, AMD will allocate acceptances on a pro rata basis among the tendering Holders.
The company also announced that on November 24, 2005 the Canadian Competition Bureau issued an advance-ruling certificate in connection with the tender offer by Koch Industries' indirect wholly owned subsidiary, Koch Forest Products, Inc., for all outstanding shares of Georgia-Pacific Corp.
Based on a final count by Mellon Investor Services LLC, the depositary for the tender offer, 23,309,145 shares of common stock were properly tendered and not properly withdrawn, including shares tendered by Brookfield Asset Management Inc.