Altaba, formerly known as Yahoo Inc., has announced the result of its share buyback programme of USD3 billion.
The share buyback was done via a “Dutch auction” self-tender offer to purchase up to $3.0 billion of shares of its common stock, which expired at 11:59 p.m., New York City time, on June 16, 2017.
Based on the final count by Computershare Trust Company, N.A., the depositary for the tender offer, a total of 64,514,767 shares of the Company’s common stock were properly tendered and not properly withdrawn at or below the final purchase price of $53.20 per share.
In accordance with the terms and conditions of the tender offer, the Company accepted for payment, at a purchase price of $53.20, all of the 64,514,767 shares properly tendered at or below the purchase price and not properly withdrawn before the expiration date, at an aggregate cost of approximately $3.4 billion, excluding fees and expenses relating to the tender offer. These shares represent approximately 6.7% of the Company’s issued and outstanding shares as of June 20, 2017.
The shares accepted for purchase include 56,390,977 shares for an aggregate purchase price of up to $3.0 billion and an additional 8,123,790 shares that the Company has elected to purchase pursuant to its right to purchase up to an additional 2% of the Company’s issued and outstanding shares without extending the tender offer.
