Liberty Global is planning to buy back a portion of its stock.
The international cable operator will execute a Dutch auction self-tender to purchase 5.682 million shares of series A and up to 5.682 million shares of series C common stock. The company set the price range for both at $40-$44 per share and anticipates the total cost to be approximately $454.6 million to $500 million.
The tender offers are expected to launch August 10 and remain open for four weeks.
Thursday’s closing price for the series A stock was $42.11 and for the series C $39.89.
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