Liberty Global’s self-tender for shares of its common stock was heavily oversubscribed.
The company announced the results Tuesday morning of its offer to purchase 5.682 million shares of its series-A and up to 5.682 million shares of its series-C common stock at $40-$44 per share. The series-A stock was oversubscribed with 9.164 million shares tendered, while the series-C stock saw 48.816 million shares tendered. The series-A purchase price is $43.60 per share and the series C is $40.
Liberty Global has the right to purchase up to an additional 2% of each series.
The cost of the tender, with or without the additional 2% per series, to the company will be within its targeted range of approximately $454.6 million-$500 million.
