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Liberty Media's self-tender offer is oversubscribed
By Lisa Kerner
Charlotte, N.C., June 13 - Liberty Media Corp.'s Dutch auction self-tender offer to purchase up to 19,417,476 shares of its Liberty Interactive series A common stock was oversubscribed. The purchase price for the tender offer, which ended at 5 p.m. ET on June 12, is $25.05 per share.
Because the offer was oversubscribed, Liberty said the number of shares purchased will be prorated, subject to odd-lot and conditional tender provisions.
The company plans to announce the final proration factor and the final purchase price on or about June 19, according to a company news release.
On May 9 Liberty announced the tender offer in which it would purchase up to $500 million of its Liberty Interactive series A common stock priced between $23.75 and $25.75 per share.
The Englewood, Colo., company owns interests in electronic retailing, media, communications and entertainment businesses.
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