Paul Mueller Company (MUEL) Odd Lot Tender

Paul Mueller Company (MUEL)

The following is for informational purposes only and not meant to be investment, legal, or tax advice. Please consult a CPA or an investment professional.

Current Price: ~$439

Tender Range: $440

Tender Date: 06/05/26

Odd lot provision: Yes

Tender offer size: $15.6m

Tender Offer Announcement

Tender Offer to Purchase

Odd lot tenders

Read my Guide to Odd Lot Tenders before attempting this or any other similar trades.

The trade:

MUEL is conducting a fixed price tender. If you can buy at below $440 you can earn a profit from the difference between your purchase price and $440.

Unique considerations:

MUEL trades Over the Counter (OTC) and only trades 392 shares a day. As a result you should use limit orders to purchase MUEL or you risk getting filled at a price that is much higher than the market price. Given the low volume, I would not put a limit order for more than a few shares per day.

Many brokers will also not “custody” or hold OTC companies so make sure it is even possible to purchase MUEL at your brokerage before buying it.

Repurchase history:

In recent years MUEL has  held two annual tender offers in March and May in both 2024 and 2025.  

Risks:

MUEL has not cancelled a tender offer and has net cash of approximately $39m against a total tender offer of $15.6m. The company is also consistently cash flow positive and profitable with the exception of 2023 when it had a large pension contribution.

The offer is not subject to a financing condition. Section 11 which outlines the conditions of the offer does not appear to have anything problematic.