A tender offer is an offer to buy a portion or all of the shares of a company from its shareholders. Taking the tender offer is equivalent to SELLING your shares at the fixed price stated in the offer.


You have three (3) options to this offer:


  • Take the tender offer (preferably if the market price is lower than the tender offer price)
  • Sell your shares at the market (best if the market price is higher than the tender offer price)
  • Decline the offer and keep your shares (if you wish to hold on to your shares*)


*Note: Some companies have intentions to be delisted from the Philippine Stock Exchange (PSE). They can also be delisted if the public shareholders becomes less than 10% after a tender offer. 


A delisted company may not trade its shares in the PSE anymore and your scripless/electronic shares will have to be converted into a physical stock certificate that the shareholder would have to keep personally. A delisted stock certificate may be difficult to sell or convert back to cash as one would have to do it through the stock transfer office and would have to find their own buyers.