Emmis Ups Minimum Offer In Dutch Auction Stock Buyback
December 13, 2011 at 5:37 AM (PT)
EMMIS COMMUNICATIONS has upped the ante in its modified Dutch auction tender offer, raising the minimum tender price to not less than $14 and no more than $15.56 per share. The previous minimum price was $12.50-$15.56/share.
The offer is presently scheduled to expire on DECEMBER 30th at 5p (ET). Any shares tendered prior to the increase in minimum offer price will, regardless, be subject to the higher value. EMMIS is buying back up to $6,000,000 in value of shares of its 6.25% Series A Cumulative Convertible Preferred Stock in the Dutch auction.