Odd-Lot Tenders for Fun and Profit: Why 99 Shares Can Beat 100
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 »