What is a Creeping Tender Offer?
Creeping tender offers are situations in which an investor or group of investors seek to gradually acquire the shares of stock issued by a target company, while attempting to get around the core provisions of the Williams Act. The purchase of shares is confined to any shares that are available on the open market. Often, the ultimate goal of a creeping tender offer is to acquire enough shares of the stock to have enough interest in the company to create a voting bloc.
