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.
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.