Altaba buys back its shares at USD53.20


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the tender offer, a total of 64,514,767 shares of the Company’s common stock were properly tendered and not properly withdrawn at or below the final purchase price of $53.20 per share.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price of $53.20, all of the 64,514,767 shares properly tendered at or below the purchase price and not properly withdrawn before the expiration date, at an aggregate cost of approximately $3.4 billion, excluding fees and expenses relating to the tender offer.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.

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