Re: Pegasus Merger Co. Announces Extension of Tender Offers (extended to 10/7/2022)
Re: TEN acquisition
Tenneco to Be Acquired by Apollo Funds
The purchase price of $20.00 per share represents a 100.4% premium over the Company's closing share price of $9.98 on February 22, 2022 and a 71.6% premium over the Company's unaffected 90-day VWAP. Upon completion of the transaction, Tenneco's shares will no longer trade on the New York Stock Exchange, and Tenneco will become a private company. -----------------------------------------------------------
The obligation of Tenneco to redeem the Notes and pay the applicable redemption price to the holders of the Notes on the Redemption Date is conditioned on (i) the completion of the acquisition of Tenneco by Pegasus Holdings III, LLC ("Holdings") pursuant to the terms of the Agreement and Plan of Merger, dated February 22, 2022, FWIW, I hold TEN and have been buying more shares in anticipation of receiving the $20/share buy out price. Tenneco Automotive (TEN) 18.46 +0.05 (+0.27%)
There is still a nice premium of 8.3% to be had. I am expecting this to be completed before the end of the year but looks like 10/7/2022 (unless extended).
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This released today:
Tenneco Announces Conditional Redemption For 5?% Senior Notes Due 2024 And 5.0% Senior Notes Due 2026SKOKIE, Ill., Sept. 7, 2022 /PRNewswire/ -- Tenneco Inc. ( NYSE: TEN) ("Tenneco") today announced that it has given notice of its intention to redeem all of its outstanding 5?% Senior Notes due 2024 (the "2024 Notes") and all of its outstanding 5.0% Senior Notes due 2026 (the "2026 Notes" and, together with the 2024 Notes, the "Notes") on October 7, 2022 (such date, as it may be extended as described below, the "Redemption Date"), subject to the satisfaction of certain conditions. |
