AMERICAN BANK INC
Terms unclear
Unclear — read the filing yourself
No closing date could be read from these filings. Nothing has been filed for this offer in over six months, so it is treated as closed — a tender offer cannot run that long. Check the filings below if you think otherwise.
In a Dutch auction, tendering too high can cost you the priority. The company picks the lowest price that buys the shares it wants, and everyone at or below that price gets it. Tender above it and your shares come back unpurchased — and because you are not in the accepted pool at all, the odd-lot priority never applies. Most offers have a box meaning "accept whatever price is determined", which keeps you in the pool; the trade-off is that you give up any say in the price. The filing explains both.
| Status | Closed (assumed) |
|---|---|
| Closing date | could not be read; last filing 2007-03-19 |
| How it is priced | Dutch auction |
| Odd-lot threshold | — |
| Must tender everything you hold | Not stated |
| Must tick the odd-lot box on the form | Not stated |
Where each of these comes from
Every line above was read out of the filing. Here is the wording it was read from, so you can check it.
mechanism = DUTCH...er Offers Process Bank offers to buy back a set number of shares for a certain amount of time A tender offer document must be mailed to shareholders setting forth the offer and its financial impact on the bank Different types of tender offers Odd-lot Fixed Price Dutch Auction Advantages This process is open to all shareholders Shareholder participation is voluntary Disadvantages There is no guarantee that enough shareholders will sell enough shares to go private There is no guarantee that a shareholder will sell all his shares – a problem if a large block is partially sold If pro-rated, oversubscription can r...
txn_type = CONSOLIDATION...om another bank It is easier to raise capital and make acquisitions as a public company Shareholders will lose certain protections and receive less information 9 Various Methods Voluntary methods Open market share repurchases Tender offers Involuntary methods Reverse stock split Cash-out merger Create a new class of preferred stock Mix – Create a new class of preferred stock and cash out merger* Other alternatives Leveraged buyout Management buyout Using Employee Stock Ownership Plan (ESOP) * For the smallest shareholders 10 Voluntary: Open Market Share Repurchase Process The Board authorizes repurchase plan Com...
The filings
| Filed | Form | Role | On EDGAR |
|---|---|---|---|
| 2007-03-19 | SC 13E3 | original (governing) | View |