A more thorough explanation:

A takeover bid is when an outside group or company tries to gain control of another company by buying a majority of its shares. This is usually done by offering a higher price than the current market value of the shares.

A tender offer is a type of takeover bid where the acquiring company offers to buy a minimum number of shares directly from the shareholders of the target company at a fixed price. This fixed price is usually higher than the current market value of the shares. The purpose of a tender offer is to gain control of the target company.

A cash tender offer is a type of tender offer where the acquiring company offers to pay cash for the shares of the target company. This is in contrast to offering other corporate shares in exchange. Most tender offers involve cash.

Company A wants to take over Company B. Company A offers to buy 51% of Company B's shares at $20 per share, which is higher than the current market value of $15 per share. This is a takeover bid. If Company A offers to buy the shares directly from the shareholders of Company B, it is a tender offer. If Company A offers to pay cash for the shares, it is a cash tender offer.

This example illustrates how a takeover bid, tender offer, and cash tender offer work. Company A is trying to gain control of Company B by offering a higher price for its shares. The tender offer allows Company A to buy the shares directly from the shareholders of Company B. The cash tender offer allows Company A to pay cash for the shares instead of offering other corporate shares in exchange.