Inventors:
Peter R. Douglas - New York NY, US
Bruce K. Dallas - Los Altos Hills CA, US
Daniel Simkowitz - New York NY, US
David A. Sullivan - New York NY, US
Trevor R. Burgess - London, GB
International Classification:
G06Q 40/00, G06Q 30/00
Abstract:
An exchange offer for securities where the exchange ratio is determined at or shortly after the end of the initial tender period. The exchange ratio can be determined based on a formula using trading data (and/or other variables) for the involved or other securities over a look-back period that covers the end or final portion of the tender period.