When the cash-rich finally take their hands out of their pockets, there may be a rush to purchase depressed stock of public asset-rich companies. The fastest way to the finishing line will be by way of cash tender offer without the delay inherent in shareholder approval.
If the non-US target of a tender offer has shareholders who are US residents, a decision will have to be made whether to exclude or include them in the offer. Excluding them leaves a trail of minority shareholders, while including them may mean dealing with US tender offer regulation.
