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Alliance Data to repurchase $750M of common shares

Alliance Data Systems Corp. said a total of 13,488,067 common shares were properly tendered and not withdrawn in its modified Dutch auction tender offer that expired Aug. 15.

The company expects to repurchase 5,067,567 common shares at $148 apiece, or a total cost of around $750 million, based on the preliminary results of the offer. The shares represent roughly 9.92% of Alliance Data's total outstanding shares as of Aug. 14.

J.P. Morgan Securities LLC, Mizuho Securities USA LLC and SunTrust Robinson Humphrey Inc. are the dealer managers of the tender offer.