_____________ is a defensive tactic in which a ﬁrm makes a tender offer for a given amount of its own stock while excluding certain shareholders.
A) A repurchase and/or standstill agreement.
B) A share rights plan.
C) An exclusionary self-tender offer.
D) A poison pill.
E) A ﬂip-over provision.

Question

Quizplus · Accepted Answer

An exclusionary self-tender offer is a defensive tactic whereby a company makes a tender offer for a specific amount of its stock but excludes certain shareholders from participating. This tactic is typically used to prevent hostile takeovers or to prevent shareholders with large stakes from gaining too much control over the company. The excluded shareholders can be prevented from buying additional shares or selling their existing shares for a certain period of time, often called a "lock-up" period.

_____________ Is a Defensive Tactic in Which a ﬁRm Makes