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Tender offer is a term typically used in corporate finance to mean a public, open offer by an entity to buy stock from the existing stockholders of a publicly traded corporation under specific terms in effect for a specific period. In the United States, tender offers are regulated by the Williams Act.
In a tender offer, the stockholders of the targeted company are asked to tender or surrender their stock holdings for a stated value (usually higher than the current market price or at premium) subject to the tendering of a minimum and maximum number of shares. For instance, if a corporation's stock were trading at a value of $1/share, an acquirer might offer $1.15/share to its shareholders on the condition that 51% of shareholders agree.
http://en.wikipedia.org/wiki/Tender_offer
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