Creeping Tender Offer

外汇网2021-06-19 14:36:23 212

A takeover strategy involving the gradual acquisition of the target company's shares. A creeping tender offer is conducted through the open financial markets rather than as a direct bid to the shareholders as is common in regular tender offer procedures.

Since an acquirer purchases shares through the open market, a pmium is not offered to the shareholder. Creeping tender offers are primarily used to try to circumvent provisions of the Williams Act and obtain shares at a non-inflated price.

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