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Microsoft Announces Preliminary Results of Tender Offer | |
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||
| Time: 15:32 EST/20:32 GMT | News Source: Microsoft Press Release | Posted By: Jonathan Tigner | ||
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Microsoft Corp. today announced the preliminary results of its modified Dutch Auction tender offer, which expired at 12:00 midnight, Eastern Time, on Thursday, August 17, 2006. Based on the preliminary count by the depositary for the tender offer, Microsoft expects to acquire approximately 155 million shares of its common stock at a price of $24.75 per share for a total cost of approximately $3.8 billion. These shares represent approximately 1.5 percent of the shares outstanding. The number of shares to be purchased and the price per share are preliminary. Final results for the tender offer will be determined subject to confirmation by the depositary of the proper delivery of the shares validly tendered and not withdrawn. The actual number of shares to be purchased and the price per share will be announced following the completion of the confirmation process. Payment for the shares accepted for purchase will occur promptly thereafter. | ||
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