A tender offer is often contingent upon the

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A tender offer typically includes a condition that the bidder acquires a certain percentage of voting shares in the target firm, which is usually a majority. This is known as the minimum tender condition or the acceptance threshold, and the offer is usually contingent upon the bidder achieving this threshold. Other conditions may include regulatory approval, completion of due diligence, or the absence of material adverse changes in the target firm's business. However, the approval of the target firm's board of directors, officers, or shareholders is not necessarily required for the tender offer to proceed.

A Tender Offer Is Often Contingent Upon the