Liberty Global announces preliminary results of self-tender offer

By Lisa Kerner

Charlotte, N.C., Sept. 11 - Liberty Global, Inc. said preliminary results show that some 9,164,419 series A shares and about 48,816,229 series C shares were validly tendered in its Dutch auction self-tender offer ended Sept. 10.

Both offers were oversubscribed, according to a company news release.

Liberty Global had planned to purchase up to 5,682,000 shares of its series A common stock and up to 5,682,000 shares of its series C common stock. It was previously reported that the total cost to purchase the maximum number of shares in each series was expected to be $454.6 million to $500 million.

Based on this preliminary tabulation, the purchase price for the series A tender offer would be $43.60 per share and the series C tender offer would be $40.00 per share, a company news release stated. Price ranges for both offers were $40.00 to $44.00.

Liberty Global retained the right to purchase up to an additional 2% of its outstanding series A and series C common stock under the offer.

The preliminary results are subject to adjustment based on shares validly tendered under guaranteed delivery procedures.

Final offer results, including numbers of shares to be purchased, the proration factor and the final purchase price, will be announced on or about Sept. 14 with payment made promptly after that, the company said.

Information agent for the tender offers is D.F. King & Co., Inc. (800 207-3158), and the depositary is Computershare Shareholder Services, Inc.

Liberty Global is an international cable operator based in Englewood, Colo.

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