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Gold/Mining/Energy : TDYH - Tandem Energy Holdings
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To: rrufff who wrote (5)1/27/2006 8:01:33 AM
From: Glenn Petersen  Read Replies (2) of 42
 
A charitable act from a corporate management. How odd.

...the Company will receive $102 million cash and will use approximately $42 million to retire long-term indebtedness. The remaining $60 million will be used to redeem all of the outstanding common stock of the Company. The Company has approximately 23.8 million shares outstanding. Under the terms of the merger, holders of the Company's common stock would receive $2.53 per share. However, the Board of Directors and officers of the Company as a group, who own approximately 85% of the stock, have elected to receive $2.13 per share to allow the shareholders who purchased their stock directly from the Company or in the open market to receive $4.50 per share.

biz.yahoo.com
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