Expedia completes $22 per share buyback |
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Fri, 19 Jan 2007 15:38
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BELLEVUE, Wash. (AFX) - Travel Web site company Expedia Inc. said Friday it completed a buyback of its shares in a modified 'Dutch auction' tender offer, at $22 per share.Expedia accepted for purchase 30 million shares of its common stock, including 'odd lots' properly tendered and not properly withdrawn at or below the $22.00 purchase price.Based on a final count, shareholders tendered about 35 million shares for the offer that expired on Jan. 10.The buyback amounts to 9.9 percent of Expedia's outstanding common stock.Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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