In an M&A transaction, when is a tender offer made to the public shareholders?

Question

Quizplus · Accepted Answer

A tender offer is typically made in a two-step tender process. In this process, the acquiring company first makes a tender offer to the public shareholders, usually at a premium to the current market price, to acquire a majority stake in the target company. This is followed by a second-step merger to acquire the remaining shares of the target company. This process allows the acquiring company to gain control of the target company quickly and efficiently. The other options (A, B, D) do not involve a tender offer to public shareholders.

In an M&A Transaction, When Is a Tender Offer Made