Difference between revisions of "Tender offer"
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A '''tender offer''' is a form of merger where the bidding [[corporation]] makes a [[cash]] [[offer]] to shareholders of the target corporation, intending to acquire majority control of the target. In 2008, [[Microsoft]] made a tender offer for the stock of [[Yahoo]], but the process has met with resistance. | A '''tender offer''' is a form of merger where the bidding [[corporation]] makes a [[cash]] [[offer]] to shareholders of the target corporation, intending to acquire majority control of the target. In 2008, [[Microsoft]] made a tender offer for the stock of [[Yahoo]], but the process has met with resistance. | ||
| − | Fraud in the context of a tender offer is a serious matter independently covered by Rule 14e-3 of the [[Securities and Exchange Commission]], based on [[federal securities law]]. | + | Fraud in the context of a tender offer is a serious matter independently covered by Rule 14e-3 of the [[Securities and Exchange Commission]], based on [[federal securities law]], and especially the Securities Exchange Act of 1934, which grants special authority governing tender offers in Section 14. |
[[category:Mergers]] | [[category:Mergers]] | ||
[[category:Law]] | [[category:Law]] | ||
Revision as of 21:35, March 4, 2008
A tender offer is a form of merger where the bidding corporation makes a cash offer to shareholders of the target corporation, intending to acquire majority control of the target. In 2008, Microsoft made a tender offer for the stock of Yahoo, but the process has met with resistance.
Fraud in the context of a tender offer is a serious matter independently covered by Rule 14e-3 of the Securities and Exchange Commission, based on federal securities law, and especially the Securities Exchange Act of 1934, which grants special authority governing tender offers in Section 14.