Log In | Become a Member | Contact Us

Leading printing executives into the future

Connect on Twitter | Facebook | LinkedIn

Featured:     European Coverage     Production Inkjet Analysis

International Paper pays $36 each for 38.5M share buyback

Friday, September 15, 2006

Press release from the issuing company

MEMPHIS, Tenn., Sept. 14 -- International Paper today announced the preliminary results of its modified "Dutch Auction" tender offer, which expired at 12:00 midnight, New York City time, on Wednesday, Sept. 13. Based on the preliminary count by the depositary for the tender offer, International Paper expects to acquire approximately 38.5 million shares of its common stock at a price of $36 per share for a total cost of approximately $1.386 billion. These shares represent approximately 7.8 percent of the shares outstanding as of Sept. 13, 2006. Because International Paper will purchase all of the shares tendered, no proration is required. The number of shares to be purchased and the price per share are preliminary. Final results for the tender offer will be determined subject to confirmation by the depositary of the proper delivery of the shares validly tendered and not withdrawn. The actual number of shares to be purchased and the price per share will be announced following the completion of the confirmation process. Payment for the shares accepted for purchase will occur promptly thereafter. Goldman, Sachs & Co. and UBS Securities LLC served as dealer managers for the tender offer. D.F. King & Co., Inc. served as information agent and Mellon Investor Services served as the depositary. Shareholders and investors who have questions or need information about the tender offer may call D.F. King & Co., Inc. at (800) 487-4870.




Email Icon Email

Print Icon Print

Become a Member

Join the thousands of printing executives who are already part of the WhatTheyThink Community.

Copyright © 2016 WhatTheyThink. All Rights Reserved