I've never heard of a mini-tender offer. Has anyone seen this before? How does it work? Is it essentially a guarantee that until the due date we can get at least $30 no matter what the stock actually trades for?
Well lets says it drops to $25 after earnings. Wouldnt we all run to subscribe? Seems like a free ride through the earnings report. Its a very strange offer and I'm trying to understand the counterparty's angle.