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Short tender |
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Short tenderPractice prohibited by SEC that involves the use of SEC SEC to respond to a SEC offer.Short tender Similar MatchesHedged tenderHedged tenderAn investor sells a portion of a stock holding short a tender offer in the event all shares tendered are not accepted. For example, investor Q has 5000 shares of XYZ. An acquiring company makes a tender offer of $100 a share when the shares are currently worth $80. Investor Q short-sells 2500 shares after the announcement and the price of the stock has approached $100. Company XYZ purchases only 2500 of the original shares at $100. Investor Q has sold all shares at $100 even as the price of the stock drops on a post-news dip. Self tender offerSelf tender offerA company that tenders for its own shares. Blitzkrieg tender offerBlitzkrieg tender offerIn the context of a takeover, refers to a tender offer that is priced so attractively that the tender is completed quickly. Noncompetitive tenderNoncompetitive tenderOffer by an investor to purchase Treasury securities at a price equivalent to the weighted average discount rate or yield of accepted competitive bids in a Treasury auction. Noncompetitive tenders are always accepted in full. Creeping tender offerCreeping tender offerThe process by which a group attempting to circumvent certain provisions of the Williams Act gradually acquires shares of a target company in the open market. Further SuggestionsTendertender offer Self Tender Fixed price tender offer Tender offer premium Tender |
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