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Gold/Mining/Energy : Big Dog's Boom Boom Room

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To: Dennis Roth who wrote (41884)	4/14/2005 7:58:31 AM
From: gregor_us	of 206305

KMG Rocks the House: Up 8 Bucks After Buyback announced: Kerr-McGee Announces Intention to Repurchase up to $4 Billion of Common Stock Through Modified 'Dutch Auction' Tender Offer from $85 to $92 Per Share Thursday April 14, 7:39 am ET - Company Continues to Strengthen E&P Business Through Targeted Divestitures; Expands Hedging Program for 2005 - 2007 OKLAHOMA CITY, April 14 /PRNewswire-FirstCall/ -- Kerr-McGee Corp. (NYSE: KMG - News) today announced that its board of directors has authorized a modified "Dutch Auction" tender offer for up to $4 billion of its common stock, at a price not less than $85 per share or more than $92 per share. The minimum tender price reflects a 15% premium over the closing stock price on the New York Stock Exchange of $73.97 on April 13, 2005, the last full trading day prior to the announcement. The tender offer is expected to commence on or about April 18, 2005. The company expects the share repurchase to be accretive to earnings and cash flow per share.

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