Sentence examples for offeror is from inspiring English sources
A takeover with many conditions, particularly a due-diligence condition, signals that an offeror is waiting to negotiate with the target.
Several distinctly different patterns are found in the approach of modern legal systems to the problems of whether an offeror is free to revoke his offer before acceptance and of when an acceptance is effective to form a contract.
In the German view, an offer binds the offeror for any stipulated period or, when the offer is silent as to time, for a reasonable period unless the offeror has expressly made the offer revocable.
In the common law, on the other hand, if the offeree uses an appropriate means of communication, the acceptance is effective on dispatch unless the offeror stipulated the contrary in his offer.
The rule that the acceptance is effective upon dispatch creates a situation in which the offeror who wishes to revoke his offer is uncertain whether or not he can still do so, since his revocation is not effective until receipt, whereas the offeree's acceptance, if one is made, takes effect on dispatch.
"The board of Brit Insurance reviewed this proposal and concluded that it significantly undervalues the group and has accordingly advised the potential offeror that it does not represent a basis on which the board is prepared to engage in any further discussions".
Thus, in German law an offeror cannot withdraw his offer until the time stipulated in the offer or, if no time is stipulated, until a reasonable time has passed; but this rule yields to a statement in the offer to the effect that it shall be revocable.
(Recall that the Restatement's definition of offer refers not to the offeror's actual state of mind but rather to manifestations that "justify another person in understanding" that assent is invited).
"We explained to [Nicholas] Ferguson that the unsuccessful bid approach from News Corporation had magnified the conflicts of interest which the independent non-executive directors have to deal with and, therefore, that it is inappropriate that the group's board (or indeed the board of any company) is led by a representative of its largest shareholder and putative offeror.
