(Answered) Consider the procedure whereby the firm states a series of

Finance

Consider the procedure whereby the firm states a series of prices at which it is prepared to repurchase stock. Shareholders then submit offers indicting how many shares they wish to sell and at which price. The firm then calculates the lowest price at which it is able to buy the desired number of shares. This procedure is known as a(n):

a.Tender offer

b.Open market repurchase

c.Green mail

d.Dutch auction

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