Tender offer
A public offer to buy shares directly from shareholders, usually at a premium.
In a tender offer the buyer offers to purchase shares directly from a company's shareholders at a stated price, bypassing a negotiated share exchange. It is a common way to acquire a listed company quickly, often in two steps: buy most of the shares in the offer, then merge to acquire the rest at the same price.
The filings are informative. A Schedule TO sets out the offer, a Schedule 14D-9 records the target board's recommendation, and a subsequent Form 8-K reports how many shares were bought and when. Together they establish the price, the date and the ownership percentage.