The company expects to repurchase 4,504,504 shares of its common stock at the final purchase price of USD11.10 per share for a total cost of approximately USD50.0m, excluding fees and expenses relating to the self-tender offer
. The number of shares of common stock expected to be repurchased is preliminary and subject to change.
Upon completion of the share issuance, the self-tender offer
and the other transactions contemplated by the stock purchase agreement, CFL beneficially owns 51% of PDN's outstanding shares of common stock, on a fully-diluted basis.
Lie (2002) specifically tests whether tender offers are used to optimize capital structure and provides evidence that firms initiate self-tender offers
when ex ante debt levels are below predicted levels.
These steps included a counter-tender offer for Z's shares, a self-tender offer
for X's own shares, and a judicial challenge of Z's credit agreement and Z's obligations under a consent agreement with X.
Flooring solution company Armstrong Flooring Inc (NYSE:AFI) disclosed on Friday the launch of a modified "Dutch auction" self-tender offer
to repurchase up to USD50m in cash of shares of its common stock, at a price per share within the range of USD11.70 to USD10.20, less applicable withholding taxes and without interest.
YJ also resolved at a meeting of its board of directors held on July 10, 2018 to: (i) express its support for the Tender Offer and its intention to leave the decision of whether to participate in this Tender Offer up to individual investors; and (ii) to acquire its own shares by way of a self-tender offer
. Over the years, SBKK and YJ have strengthened their collaboration with an emphasis on e-commerce, expanded smartphone customer-targeted services, and strengthened the business relationship between the two companies.
PHH Corporation (NYSE: PHH) has announced the commencement of a modified "Dutch auction" self-tender offer
to purchase shares of its common stock for an aggregate amount of up to USD 266 million in cash, the company said.
AudioCodes (NASDAQ: AUDC) (TASE: AUDC) has reported final results of its self-tender offer
to purchase up to 3,000,000 of its ordinary shares at nominal (par) value NIS 0.01 per share, the company said.
In the instant case, the following transactions gave rise to expenses for professional fees: (1) professional fees for services rendered in connection with filing administrative and judicial actions by X to enjoin Z's takeover attempt; (2) professional fees for services performed in connection with rendering the fairness opinion; and (3) professional fees for services rendered in connection with X's self-tender offer
and the counter tender offer of Z stock, which include steps taken towards obtaining X's loan commitment and valuation estimates of X and Z assets.
intends to commence a self-tender offer
at USD 6.00 per share for up to 1.5m shares of its common stock that is contingent on the closing of the merger.
Another wholly-owned subsidiary of SoftBank Group Corp, SoftBank Group Japan Corporation has agreed to tender 611,111,111 shares of Yahoo Japan Corporation held by it into Yahoo Japan's self-tender offer
, which will expire on 9 August 2018, subject to extension, the day after the initial expiration of the SoftBank Corp tender offer.
Icahn Enterprises (IEP), Herbalife's (HLF) largest shareholder and one of the company's longest-standing shareholders, reported that yesterday IEP tendered its Herbalife shares into the company's self-tender offer
. Of the shares tendered, at most only 11.4M could possibly be purchased in the tender, which would still leave Icahn Enterprises as the company's largest shareholder with at least 34.3M shares, Icahn stated.