Bargeron, Leonce L. - In: Journal of Corporate Finance 18 (2012) 2, pp. 373-388
By signing a Shareholder Tender Agreement (STA) a shareholder pre-commits to tender her shares to a particular bidder, forsaking the right to tender to any subsequent bidder. In a representative sample of tender offers between 1995 and 2010, 60% of the offers contain an STA. STA deals are...