IEC is going to try and buy back all of its shares at 25.5. After this they are going to merge with a sister company and be delisted. I think 25.5 is a low price. Do I have to tender my shares?Can't help you with the issue of whether you must tender your shares -- I'd suggest you ask the question on one of the more heavily used boards, such as "Ask a Foolish Question". I'd rather tend to think not, though.Since I'm pretty sure they can de-list whether they've bought all the shares or not, you might want to rethink this. From what I saw on the charts, $25 was a pretty reasonable price (it had been right around that for a month or so prior to the announcment (presuming your post was close in time to the announcement)). I think you can still trade shares in it after it's no longer listed (Over-the-counter stocks), but $25/share is pretty pricey from what little I know of that market. That's another topic you might want to ask about, because I'm none too certain of how true all of what I've said is -- it's semi-educated guesswork. I wouldn't bet MY money on it.If this is too late to do you any good, sorry, but that's the way it goes. I just noticed the stock for the first time in a screen I was running.