11. If it succeeds, Wells Fargo can ask First Interstate stockholders to tender their shares. 12. If more shares are tendered than the company wants, the clearing price is set at the bottom of the range. 13. In a Dutch auction, shareholders are given an opportunity to specify prices, within a stated price range, at which they are willing to tender their shares. 14. In a Dutch auction, shareholders are invited to specify prices, within a stated range, at which they are willing to tender their shares. 15. In addition, certain officers and directors have agreed to tender their shares. 16. In its lawsuit, Norfolk Southern charges that Conrail violated federal securities laws by making false and misleading statements to coerce shareholders into tendering shares to CSX. 17. In the absence of another offer, Miller said, Legg would tender its shares to IBM. 18. It could still file an appeal and hope to convince Conrail investors to hold off on tendering their shares. 19. Morrison earlier attempted to persuade shareholders not to tender their shares until competing offers emerged. 20. Of course, the Union Pacific Resources bid is structured to encourage shareholders to tender their shares early on. |