Citadel Holding will study GW’s tender offer.

The company said its board will review the purchase offer from Great Western Financial at a special meeting March 31. Citadel, the parent of Fidelity Federal Savings & Loan Assn., said it then will announce how it plans to handle the unsolicited offer, which involves an exchange of Great Western stock worth about $175 million. Meanwhile, Great Western said the tender offer, which began Thursday, will run through April 25. The deal is contingent on Great Western being able to buy at least 51% of Citadel’s outstanding shares.