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June 28, 2012 05:48 pm GMT
AOL (also known as the company that signs TechCrunch's paychecks) has announced this morning it has started a "Dutch auction" tender offer to buy back shares of its common stock, up to $400 million. The Dutch auction format means that shareholders will say how many shares they want to sell at what price. AOL will thendeterminethe lowest price per share in that range and buy the amount it wants. Shareholders will be able to tender some or all of their shares at price within a $27 to $30 per share, the company says.
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/tmE9Ap6KBIU/
AOL Starts $400M Stock Buyback At $27-$30 Per Share
AOL (also known as the company that signs TechCrunch's paychecks) has announced this morning it has started a "Dutch auction" tender offer to buy back shares of its common stock, up to $400 million. The Dutch auction format means that shareholders will say how many shares they want to sell at what price. AOL will thendeterminethe lowest price per share in that range and buy the amount it wants. Shareholders will be able to tender some or all of their shares at price within a $27 to $30 per share, the company says.Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/tmE9Ap6KBIU/
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