All Cash, All Stock Offer

The term "all cash, all stock offer" sounds like a real "have your cake and eat it too" type situation, right? All stock! (Read: no taxes until I sell!) All cash! (Porsche shopping time!) We'll take both!

It should probably read "all cash for stock offer," and in every day Wall Street talk, you'll commonly hear it referred to as just a "cash offer." (See: All-Cash Deal) That is, the buyer is paying all cash for all of the stock of the target.

The underlying point is that one company is offering to buy another by exchanging a set cash amount for each share of outstanding stock. The fact that the bid is still an offer and not yet a done deal indicates that a final agreement has yet to close.