There, it was originally presented as a contractual lodging arrangement featuring the right to make reservations in multiple properties owned by the offeror or even by third parties.

Source: https://www.forbes.com/sites/rogersands/2023/09/06/the-evolution-of-timeshare-ownership-affords-owners-more-flexibility/

Under the Modified Dutch Auction Procedure, the offeror will determine, in its sole discretion, following expiration of the tender offer, the purchase price for the securities.

Source: https://businessmirror.com.ph/2023/01/17/petron-concludes-tender-offer-of-notes/