Tender Offer vs. Merger Proxy:
Average Sign-to-Close Span
Source: FactSet
66 days
142 days
Tender Offer
Merger Proxy
One way that acquirers are looking to expedite the closing of acquisitions of public targets is by using tender offers rather than merger proxy processes, which on average take more than twice as long to close after the signing of the merger agreement.
Average days between signing and closing
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160