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M&N stock is currently selling for $22 per share. The firm just made an offer to one of its major shareholders to repurchase all the

M&N stock is currently selling for $22 per share. The firm just made an offer to one of its major shareholders to repurchase all the shares owned by that shareholder for $26 per share. What type of offer is being made?

Targeted repurchase

Private issue

Tender offer

Rights offer

Secondary issue

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