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Strategies & Market Trends : Value Investing
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To: Investor2 who wrote (51919)7/21/2013 11:57:04 AM
From: Keith J1 Recommendation

Recommended By
Spekulatius

   of 78903
 
Because odd lots have priority in the tender offer - any amount under 100 shares is likely to get purchased. I'm assuming they were purchased in separate accounts.

<<Under the terms of the tender offer, the company intends to select the lowest price, not greater than $13.00 nor less than $12.25 per share, net to the tendering stockholder in cash, less any applicable withholding taxes and without interest, which would enable the company to purchase the maximum number of shares having an aggregate purchase price not exceeding $250 million. Stockholders may tender all or a portion of their shares of common stock. Stockholders also may choose not to tender any of their shares of common stock. If the tender offer is oversubscribed, shares will be accepted on a prorated basis, subject to “odd lot” priority.>>

KJ
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