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Special situations

All
M&A
Spin-offs
Buyback
Restructuring
Activism
Dissolution / Liquidation
Uplisting
Delisting
Odd-lot tender
Track record

Special situations

All
M&A
Spin-offs
Buyback
Restructuring
Activism
Dissolution / Liquidation
Uplisting
Delisting
Odd-lot tender
Track record

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Buyback · Sonsolodatos

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Buyback

The company buys its own shares, in the open market or through a fixed-price partial tender. It shrinks the share count and can put a floor under the price. Where it is a partial tender, proration comes into play.

Live cases

0

Median spread

—

Median horizon

—

Why it matters

For readers after returns with little market correlation: the outcome hinges on proration and execution, not on index direction.

How the money is made

The programme or partial tender is announced, with its price or range.
In a fixed-price partial tender, that price becomes the market's reference.
You tender your shares; if more are tendered than accepted, they are prorated.
You are paid for the accepted portion and keep the rest in the market.

What to watch

Open-market repurchase versus fixed-price partial tender: not the same thing.
Percentage of the share count being targeted.
Proration rules, and whether small holdings are exempt.
How it is funded: existing cash or new debt.
Whether insiders tender or hold.

Typical risks

The programme is cancelled or executed far below what was announced.
Proration leaves you holding more shares than you intended.
The price floor disappears the moment the programme ends.

Live cases

No live cases in this category right now.

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