What types of tender offers can this skill analyze?

The skill is designed to handle self-tenders, third-party offers, Dutch auctions, and two-tier merger structures.

How does it calculate proration risk?

It estimates the proration factor by analyzing the public float, subtracting likely non-tenderers such as index funds or locked-up insiders, and comparing the result to the shares sought.

Can this skill help with odd-lot strategies?

Yes, it includes workflows to verify odd-lot priority status and assess whether an odd-lot exemption applies to avoid proration.

Does it account for the time value of money?

Yes, it calculates annualized returns based on expected closing dates, including modeling for potential extensions and regulatory delays.

Tender Offer Economic Analysis

Name: Tender Offer Economic Analysis
Author: lev-os

bylev-os

•

Ciencia de Datos y ML

Evaluates tender offer structures and models proration risks to optimize event-driven investment decisions.

This skill provides a rigorous framework for analyzing tender offers, including self-tenders, third-party acquisitions, and Dutch auctions. It enables users to quantify gross spreads, model complex proration scenarios for oversubscribed offers, and evaluate the economic trade-offs of conditional versus unconditional tender strategies. By incorporating undisturbed price data, ownership structures, and regulatory timelines, the skill helps investment professionals and legal analysts calculate probability-weighted expected values and identify risks in special situations and activist investing scenarios.

Características Principales

01Gross spread and annualized return calculations

02Conditional tender vs. odd-lot exemption analysis

03Proration factor modeling and sensitivity matrix generation

042 GitHub stars

05Probability-weighted scenario and expected-value (EV) summaries

06Two-tier and squeeze-out economic modeling

Casos de Uso

01Modeling potential proration outcomes in a partial self-tender offer

02Calculating the annualized spread and deal-break risk for an activist-led offer

03Assessing the economic impact of appraisal rights versus tendering in a two-tier merger

Características Principales

01Gross spread and annualized return calculations

02Conditional tender vs. odd-lot exemption analysis

03Proration factor modeling and sensitivity matrix generation

042 GitHub stars

05Probability-weighted scenario and expected-value (EV) summaries

06Two-tier and squeeze-out economic modeling

Casos de Uso

01Modeling potential proration outcomes in a partial self-tender offer

02Calculating the annualized spread and deal-break risk for an activist-led offer

03Assessing the economic impact of appraisal rights versus tendering in a two-tier merger