All of the following may be true about tender offers EXCEPT
A) management has the exclusive right to accept the offer.
B) defensive tactics may be taken to ward off the offer.
C) they may be made without warning as an abrupt attempt at a corporate takeover.
D) they may add pressure to existing merger negotiations.

Question

Quizplus · Accepted Answer

Management does not have the exclusive right to accept the offer in a tender offer. In fact, it is the shareholders who have the right to decide whether or not to accept the offer.

All of the Following May Be True About Tender Offers