Tender Offer

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Tender Offer

A proposal to buy shares of stock from the stockholders of a corporation, made by a group or company that desires to obtain control of the corporation.

A tender offer to purchase may be for cash or some type of corporate security of the acquiring company—for example, stock, warrants, or debentures. Such an offer is sometimes subject to either a minimum or maximum that the offeror will accept and is communicated to the stockholders through newspaper advertisements or a general mailing to the complete list of stockholders. Tender offers are subject to regulations by state and federal Securities laws, such as the Williams Act (15 U.S.C.A. § 78a et seq.).

Cross-references

Mergers and Acquisitions; Stock Warrant.

References in periodicals archive ?
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.
2022 Notes validly tendered pursuant to the Maximum Tender Offer and accepted for purchase may be subject to proration.
The Tender Offers will be funded by the company from borrowings under a new term loan B facility under its senior credit agreement.
The remaining tender offers will expire at Midnight New York City time on 16 June 2011.
** THE COURTS AND THE SEC APPLY three sets of rules to decide whether insider trading has taken place: traditional (information stemming from a relationship of trust with an entity or its shareholders), misappropriation (information disclosed in confidence) and tender offer (information about a company that's in play).
The principal purpose of the plan, the adoption of which constituted the distribution of a dividend under state law, was to provide shareholders with rights to purchase stock at less than fair market value as a means of responding to unsolicited tender offers.
In addition, 32,000 warrants (no 1) issued by ILOG in 2003, 16,000 warrants (no 2) issued by ILOG in 2003, 46,000 warrants issued by ILOG in 2004, 48,000 warrants issued by ILOG in 2005, 64,000 warrants issued by ILOG in 2006, and 48,000 warrants issued by ILOG in 2007 were tendered in the tender offers.
Observation: Closed-end funds will have the ability to make tender offers without adverse tax consequences-so long as each offer is not required and there is no plan or commitment to make subsequent tender offers.
M2 EQUITYBITES-June 20, 2019-Entergy Waves Shareholders Off of TRC Capital Mini Tender Offer
Comment: Akamai Technologies warns shareholders to reject "mini tender offer"
Mini-tender offers seek less than 5% of a company's outstanding shares, and thus are not subject to many of the investor protections afforded to larger tender offers, including the filing of disclosure and other tender offer documents with the Securities and Exchange Commission and other procedures mandated by US securities laws.