Definition
A tender offer is a public invitation made by a company or individual to shareholders of another company to sell their shares at a specified price and during a specified period. It's usually made to acquire a controlling interest in the target company. Tender offers are often used when a company can't reach an agreement with the target company's management. The offer is made directly to the shareholders, bypassing the board of directors. Think of it like a direct appeal to the people, bypassing the politicians. 🗣️ It's a way to take control of a company from the ground up.