Expansive Corporation made a tender offer of $65 per share to the shareholders of Hometown Corporation to acquire seventy-five percent,but no more than that,of the shares of Hometown.Because only sixty-eight percent of the shares had been tendered in twenty days,Expansive offered $75 per share,and another twenty percent of the shares were tendered in four days.Expansive terminated the higher offer on the fifth day,paid $65 for all the shares tendered at that price,and paid $75 for some of the shares tendered at the higher price.Discuss Expansive's actions.

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The Answer of Expansive Corporation made a tender offer of $65 per share to the shareholders of Hometown Corporation to acquire seventy-five percent,but no more than that,of the shares of Hometown.Because only sixty-eight percent of the shares had been tendered in twenty days,Expansive offered $75 per share,and another twenty percent of the shares were tendered in four days.Expansive terminated the higher offer on the fifth day,paid $65 for all the shares tendered at that price,and paid $75 for some of the shares tendered at the higher price.Discuss Expansive's actions.

Expansive Corporation Made a Tender Offer of $65 Per Share