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Simple English definitions for legal terms
cash tender offer
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A quick definition of cash tender offer:
A cash tender offer is when someone wants to buy a company and offers to pay a lot of money to the people who own shares in that company. They make this offer publicly and ask the shareholders to sell their shares at a fixed price, which is usually higher than the current market price. This is a way for the buyer to take control of the company. It's called a "tender offer" because the buyer is asking the shareholders to tender their shares for sale. Most of the time, the buyer offers to pay cash for the shares, instead of offering other company shares in exchange.
A more thorough explanation:
A cash tender offer is a type of takeover bid where a company offers to buy a minimum number of shares directly from the shareholders at a fixed price, usually at a premium over the market price. The purpose of this offer is to gain control of the corporation.
Company A wants to acquire Company B. Company A offers to buy 51% of Company B's shares at $50 per share, which is higher than the current market price of $40 per share. This is a cash tender offer because Company A is offering to pay cash for the shares instead of offering other corporate shares in exchange.
This offer is attractive to Company B's shareholders because they can sell their shares at a higher price than the current market value. If enough shareholders accept the offer, Company A will gain control of Company B.
Another example of a cash tender offer is when a company wants to take over a competitor. The company may offer a premium price for the competitor's shares to gain control of the market.