Optimal Method for Share Repurchase

ABC Corporation has announced a share repurchase program aimed at enhancing shareholder value through improving earnings per share (EPS) and providing liquidity to shareholders. Investors are keenly analyzing the method that ABC Corporation will employ for this repurchase. There are three primary methods a company can use to repurchase its shares: open market repurchase, fixed-price tender offer, and Dutch auction tender offer. Each method has distinct implications for shareholder equity and market perception.

Given the following details:

• ABC Corporation intends to manage the price at which shares will be repurchased.
• The firm anticipates that buying back shares will lead to a more favorable market price for the remaining shares.

Which method of share repurchase is ABC Corporation most likely to utilize to minimize its cost of acquiring shares while maximizing shareholder satisfaction?