Corporate Actions

Tender Offer

Definition

What is Tender Offer?

A public offer to buy securities from holders at specified terms during a stated period.

Example in practice

An acquirer offers ₦40 per share to buy at least 60% of a target company.

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An offer allowing existing shareholders to buy additional shares, usually in proportion to their holdings.

An issue of additional shares to existing shareholders without a cash payment.

An increase in the number of shares accompanied by a proportional reduction in price per share, leaving total value initially unchanged.

A vote cast by another person or electronically on behalf of a shareholder.

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