Liberty Global PLC commenced "modified Dutch Auction" tender offers to invite its shareholders to tender up to $2.5 billion of its ordinary shares.
The tender offers consist of up to $625 million of its issued and outstanding ordinary class A shares for purchase by Credit Suisse Securities (USA) LLC and HSBC Securities (USA) Inc. at a price not greater than $29 nor less than $25.25 per class A share; and up to about $1.88 billion of its issued and outstanding ordinary class C shares for purchase by the counterparty banks at a price not greater than $28.50 nor less than $24.75 per class C share.
The closing price of the shares on the Nasdaq Global Select Market on Aug. 9, the last full trading day before the commencement of the tender offers, was $25.98 per class A share and $25.85 per class C share, according to an Aug. 12 news release.
The tender offers are scheduled to expire at one minute after 11:59 p.m. ET on Sept. 9, unless the offers are extended or terminated.
The information agent for the tender offer is Innisfree M&A Inc. The depositary for the tender offer is Computershare Trust Co. NA. The dealer managers for the tender offer are Credit Suisse Securities (USA) LLC and HSBC Securities (USA) Inc.