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Re:Dole Food Had Too Many Shares by bertjk on Friday February 17, 2017 @03:03PM (#13671239)
The price is typically set at a premium over the market price in order to persuade existing shareholders to tender their shares to you.

As for what happens to holdouts that e.g. do not think the price is high enough, their situation is explained by: http://www.investopedia.com/ask/answers/06/rejecttenderoffer...

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