Evan Hudson pens article for The DI Wire "Mini-Tender Offers - The Good, the Bad and the Ugly"
The DI Wire
February 10, 2017
In the world of non-traded REITs, mini-tender offers get a bad rap, but are they all bad? It depends upon whom you ask.
An issuer or its sponsor will likely answer “yes.” The mini-tender offer disrupts the company’s operations. It comes at an inconvenient hour of the bidder’s choosing. The issuer must deal with it—retain counsel—draft a response letter—convene a board meeting—file documents with the SEC—conduct a mailing to all stockholders—each at a significant cost of time and money.