Examples of Investor Tender Offer in a sentence
Each of the proposed transactions would be structured to qualify as a Permitted Investor Tender Offer (as defined in the Stockholders Agreement) and in particular would have a non-waivable condition that the holders of at least a majority of the WilTel shares that are not beneficially owned by Leucadia have tendered and not withdrawn their shares (the "Minimum Condition").
According to the letter Sent to WilTel's board of directors and filed with the Securities and Exchange Commission ("SEC") on May 15, 2003, the Proposed Transaction is a Permitted Investor Tender Offer negotiated as part of the 2002 Stockholders Agreement between WilTel and Leucadia.
In fact, at the time the Stockholder Agreement between Leucadia and WilTel was negotiated, last year, it was agreed that Leucadia could make a "Permitted Investor Tender Offer" (as defined in the Stockholders Agreement) and that such a transaction would not be initiated prior to October 15, 2004, unless it was approved by a majority of the "Independent Company Directors" (as defined in the Stockholders Agreement) or by the holders of a majority of the WilTel shares not owned by Leucadia.