Tender offer
MarketsDefinition
A public offer to buy shares from existing shareholders at a specified price, typically at a premium to market. Used in M&A (acquirer offers to buy out target) and buybacks (company offers to repurchase its own shares).
Subject to SEC rules including minimum offer period (20 business days) and best-price provisions. Hostile tender offers go directly to shareholders, bypassing target management.
Subject to SEC rules including minimum offer period (20 business days) and best-price provisions. Hostile tender offers go directly to shareholders, bypassing target management.