all-holders rule

All-Holders Rule

An SEC regulation requiring publicly-traded companies to offer all new issues of a security to all current shareholders of the same class. For example, if a company issues more Class A shares, it must allow all current Class A shareholders to participate in the offering. Likewise, if it wishes to buy back all class A shares, it must allow all shareholders to sell their shares back to the company.
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all-holders rule

An SEC rule that prohibits bidders and target companies from excluding a stockholder or a group of stockholders from a tender offer. See also exclusionary tender offer.
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.