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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 MatchesSelf TenderSelf TenderA company buys back a certain percentage of its own shares through a tender offer. 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. Self tender offerSelf tender offerA company that tenders for its own shares. Fixed price tender offerFixed price tender offerA one-time offer to purchase a stated number of shares at a stated fixed price, usually at a premium over the current market price. Hedged 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. Further SuggestionsNoncompetitive tenderTender tender offer Tender offer premium Tender Creeping tender offer |
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