Shareholders responded strongly to Liberty Global’s offer to buy back two series of common stock. The international cable operator announced the final results of the tender offer it announced last month, reporting that it purchased 5.862 million shares of series A common stock at $43 and 9.51 million shares of series C common stock at $40.
Based on the final results, over 12 million shares of the series A stock were submitted while holders of the series C stock threw in a whopping 52 million shares.
Liberty spent $625 million on the buyback, which was well over the $454.6 million to $500 million range it estimated when the tender was announced.
The smarter way to stay on top of broadcasting and cable industry. Sign up below.
Thank you for signing up to Broadcasting & Cable. You will receive a verification email shortly.
There was a problem. Please refresh the page and try again.