self-tender

noun

1. an offer by a company to buy back some or all of its shares from its shareholders, esp as a protection against an unwelcome takeover bid

Example Sentences

The billionaire investor suggested the company use a self-tender offer to buy back the stock, and said that he himself wouldn't sell his shares and take a profit.

From Wall Street Journal

OR Do stockholders want to elect our director nominees who, if elected, will promptly move forward, subject to their fiduciary duties, with a Dell self-tender offer at $14 per share plus warrants and allow stockholders to remain in the company to enjoy the benefits of what we believe will be a resurgent Dell under new management?

From Forbes

Midwest chain that operates more than 1,500 stores, said it expected to buy about 13.2 million shares from its own shareholders at $38 a share as a result of its modified Dutch auction self-tender offer, which expired on Wednesday.

From Reuters

Another defense is the self-tender.

From Time Magazine Archive