Because the tender offers
were oversubscribed, shares were accepted from tendering shareholders on a pro rata basis (other than with respect to tendering odd lot holders whose entire tender was accepted pursuant to the terms of the tender offers
so that the Company has accepted for purchase 477,170 Class B Shares and 22,830 Class C Shares.
2022 Notes validly tendered pursuant to the Maximum Tender Offer
and accepted for purchase may be subject to proration.
The Tender Offers
will be funded by the company from borrowings under a new term loan B facility under its senior credit agreement.
The remaining tender offers
will expire at Midnight New York City time on 16 June 2011.
** THE COURTS AND THE SEC APPLY three sets of rules to decide whether insider trading has taken place: traditional (information stemming from a relationship of trust with an entity or its shareholders), misappropriation (information disclosed in confidence) and tender offer
(information about a company that's in play).
The principal purpose of the plan, the adoption of which constituted the distribution of a dividend under state law, was to provide shareholders with rights to purchase stock at less than fair market value as a means of responding to unsolicited tender offers
In addition, 32,000 warrants (no 1) issued by ILOG in 2003, 16,000 warrants (no 2) issued by ILOG in 2003, 46,000 warrants issued by ILOG in 2004, 48,000 warrants issued by ILOG in 2005, 64,000 warrants issued by ILOG in 2006, and 48,000 warrants issued by ILOG in 2007 were tendered in the tender offers
Observation: Closed-end funds will have the ability to make tender offers
without adverse tax consequences-so long as each offer is not required and there is no plan or commitment to make subsequent tender offers
M2 EQUITYBITES-June 20, 2019-Entergy Waves Shareholders Off of TRC Capital Mini Tender Offer
Comment: Akamai Technologies warns shareholders to reject "mini tender offer
Mini-tender offers seek less than 5% of a company's outstanding shares, and thus are not subject to many of the investor protections afforded to larger tender offers
, including the filing of disclosure and other tender offer
documents with the Securities and Exchange Commission and other procedures mandated by US securities laws.