How many shares will be purchased from an investor who tenders 1,000 shares when only 900,000 shares are tendered in a tender offer for 1 million shares?

In a tender offer scenario, when a company offers to purchase a specific number of shares from shareholders, the allocation of shares can depend on the total shares tendered versus the amount the company is willing to buy. In this case, the company has offered to buy 1 million shares but only 900,000 shares were actually tendered by investors.

When an investor tenders 1,000 shares in a situation where the total shares tendered do not reach the maximum offer, every tendered share is typically accepted. Since the total number of shares tendered (900,000) is less than the total the company is willing to purchase (1 million), there is no need for proportional allocations. Therefore, the investor who has tendered 1,000 shares will indeed have all of their shares purchased.

This is why the correct choice is that the investor will purchase 1,000 shares—there are enough shares available under the tender offer to cover all the shares that have been tendered.