We now have the first real test of our Computer Modelling Group odd-lot trade, and the preliminary result is almost as favorable as it could have been. Computer Modelling Group Ltd. (TSX: CMG) says its substantial issuer bid expired September 21 with a preliminary purchase price of C$4.50 per share, the very top of its C$4.00 to C$4.50… Read More »
Another odd-lot tender has appeared. This one has excellent mechanics and rather less exciting math. Utah Medical Products, Inc. (NASDAQ: UTMD) announced that it intends to repurchase up to 650,000 shares at $75 per share, representing roughly 20% of the company’s outstanding stock. If the offer is oversubscribed, shareholders owning fewer than 100 shares who tender all of… Read More »
We recently wrote about odd-lot tenders for fun and profit: those peculiar corporate actions where owning 99 shares can sometimes put you ahead of investors who own 100, 1,000 or a million. The obvious next question is whether there are any actual opportunities to try it on. As of September 10, 2026, there are three live publicly traded… Read More »
There are not many situations in investing where owning 99 shares is demonstrably smarter than owning 100. Odd-lot tender offers are one of them. Every so often, a company decides to repurchase a large block of its own stock through a tender offer. If too many shareholders want to sell, everybody is normally prorated. But some offers contain… Read More »