An off-market takeover offer is a proposal made by one company...

An off-market takeover offer is a proposal made by one company to acquire another company through the purchase of a majority of its shares. Off-market takeover offers differ from on-market offers, which are made through a stock exchange and are open to all shareholders. Off-market offers are typically made directly to the target company's shareholders and may not be publicly announced.
Off-market takeover offers can be made for a variety of reasons, including to acquire a strategic asset, to expand the acquiring company's market share or product offerings, or to realize cost savings through economies of scale. The terms of an off-market takeover offer will typically include the purchase price and any other conditions or requirements that must be met in order for the offer to be accepted.
Off-market takeover offers can be controversial, as they may not provide the same level of transparency and fairness as on-market offers. In some cases, off-market offers may be perceived as attempts to take control of a company without providing full and fair value to all shareholders. As a result, off-market takeover offers may be subject to regulatory scrutiny and may require the approval of shareholders or other stakeholders.