Reading 32, Mergers & Acquisition Page 256 under 4.3.2 Hostile Mergers there is a line written in Curriculum
A tender offer can be made with cash, shares of the acquirer’s own stock, other securities, or some combination of securities and cash. Because a cash tender offer can be completed in less time than a cash merger, some acquiring companies use this type of transaction to gain control of a target company quickly.
What exactly does than mean? Cash tender offer and cash merger? Are they different?