| 释义 |
creeping tender offer Creeping tender offerThe process by which a group attempting to circumvent certain provisions of the Williams Act gradually acquires shares of a target company in the open market.creeping tender offer The purchase of a target firm's stock at varying prices in the open market rather than through a formal tender offer. Most shares are often acquired in large blocks from arbitrageurs, frequently resulting in the exclusion of small stockholders from the offer. The purpose of a creeping tender offer is to gain control of a firm's stock more cheaply and quickly than an ordinary tender offer permits. See also Williams Act. |