creeping tender offer

creeping tender offer definition - business

creeping tender offer

The purchase of a target firm's stock at varying prices in the open market rather than through a formal tender offer. Most shares are often acquired in large blocks from arbitrageurs, frequently resulting in the exclusion of small stockholders from the offer. The purpose of a creeping tender offer is to gain control of a firm's stock more cheaply and quickly than an ordinary tender offer permits. See also Williams Act.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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