A firm announces that it is willing to purchase a number of shares back at various prices and shareholders have the option to indicate how many shares they are willing to sell at various prices. This process is called a:

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This process is called a Dutch auction. In a Dutch auction for share repurchases, the company announces it wants to buy back shares and asks shareholders at what price they are willing to sell their shares. The company then determines the lowest price at which it can buy back the desired amount of shares. This method allows the company to efficiently repurchase shares by paying a fair market price determined through shareholder bids.

A Firm Announces That It Is Willing to Purchase a Number