An automobile manufacturer,Diamond Securities Inc.offers to purchase 58% shares of a mid-sized start-up that deals with digital accessories for automobiles.However,Diamond Securities Inc.does not specify the price or the form of payment.According to the contract,the price of the purchase will be determined based on the market value of the share on the day of the purchase.This deal is an example of

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A tender offer is a public, open offer or invitation (usually announced in a newspaper advertisement) by a prospective acquirer to all stockholders of a publicly traded corporation to tender their stock for sale at a specified price during a specified time, subject to the tendering of a minimum and maximum number of shares. In this scenario, Diamond Securities Inc.'s offer to purchase 58% shares of a company without specifying the price or form of payment, but basing it on market value, aligns with the characteristics of a tender offer.

An Automobile Manufacturer,Diamond Securities Inc