self-tender


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Related to self-tender: partial tender offer

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.

self-tender

An offer by a firm to repurchase some of its own securities from stockholders, generally on a pro rata basis from those shares offered for sale. A self-tender may be preferable to purchase of the securities in the open market because a self-tender is quicker and will not disrupt public trading in the securities. Firms frequently repurchase their own stock from investors holding fewer than a set number of shares in order to eliminate the high cost of servicing small stockholders. A self-tender is similar to a buyback except that buybacks often refer to repurchases from special groups or a few large holders. Also called stock repurchase plan.
References in periodicals archive ?
Upon completion of the share issuance, the self-tender offer and the other transactions contemplated by the stock purchase agreement, CFL beneficially owns 51% of PDN's outstanding shares of common stock, on a fully-diluted basis.
Based on the final count by the depositary for the self-tender offer, a total of 20,710,940 shares of common stock were validly tendered.
AudioCodes (NASDAQ: AUDC) (TASE: AUDC) has reported final results of its self-tender offer to purchase up to 3,000,000 of its ordinary shares at nominal (par) value NIS 0.
Based on the preliminary count by the depositary for the self-tender offer, a total of approximately 22,658,441 shares of common stock were validly tendered, including 3,990,783 shares that were tendered through notice of guaranteed delivery.
AudioCodes (NASDAQ: AUDC) (TASE: AUDC) has commenced a self-tender offer to purchase up to 3,000,000 ordinary shares of AudioCodes at a price of USD4.
The self-tender offer will expire at midnight, New York City time, on June 27, 2012, unless it is extended or withdrawn.
Intrawest Resorts Holdings Inc (NYSE:SNOW) disclosed on Thursday the final results of its modified 'Dutch auction' self-tender offer, which expired at 17:00 New York City time on 10 February 2016.
The Board, in conjunction with the Company's financial advisors and management, has determined to continue with the execution of the Company's strategic plan, augmented by a self-tender offer and the divestment of selected properties.
M2 EQUITYBITES-May 15, 2015-Winmark Corporation reports results of self-tender offer; Closes on USD85.
Acxiom(R) Corporation (Nasdaq: ACXM) today provided revised information with respect to its previously announced preliminary results of its modified "Dutch Auction" self-tender offer, which expired at 5:00 p.
M2 EQUITYBITES-April 16, 2015-Winmark announces self-tender offer to purchase up to 875,000 shares at USD84.
Acxiom(R) Corporation (Nasdaq:ACXM) today announced preliminary results of its modified "Dutch Auction" self-tender offer, which expired at 5:00 p.