Odd Lot Index

BLYTH INC

Terms unclear

Unclear — read the filing yourself
In a Dutch auction, tendering too high can cost you the priority. The company picks the lowest price that buys the shares it wants, and everyone at or below that price gets it. Tender above it and your shares come back unpurchased — and because you are not in the accepted pool at all, the odd-lot priority never applies. Most offers have a box meaning "accept whatever price is determined", which keeps you in the pool; the trade-off is that you give up any say in the price. The filing explains both.
StatusClosed
Closing date2004-07-09
How it is pricedDutch auction
Odd-lot thresholdFewer than 100 shares
Must tender everything you holdYes
Must tick the odd-lot box on the formYes
Price offeredUSD $30.00 to $35.00 per share
Most an odd-lot tender could be$2,970.00 to $3,465.00

Where each of these comes from

Every line above was read out of the filing. Here is the wording it was read from, so you can check it.

election_required = True...h below: • First, we will purchase all shares tendered by all holders of “odd lots” who: • tender all shares owned beneficially or of record at a price at or below the purchase price selected by us (partial tenders will not qualify for this preference); and • complete the section entitled “Odd Lots” in the letter of transmittal and, if applicable, in the notice of guaranteed delivery. • Second, subject to the conditional tender provisions described in Section 6, we will purchase all other shares tendered at prices at or below the purchase price selected by us on a pro rata basis with appropriate adjustments to avoid purchases of fractional shares, as described...
expiry = 2004-07-09...for Cash Up to 4,000,000 Shares of its Common Stock At a Purchase Price Not Greater Than $35.00 Nor Less Than $30.00 Per Share by Blyth, Inc. THE TENDER OFFER, PRORATION PERIOD AND WITHDRAWAL RIGHTS WILL EXPIRE AT 5:00 P.M., NEW YORK CITY TIME, ON FRIDAY, JULY 9, 2004, UNLESS BLYTH EXTENDS THE TENDER OFFER. Blyth, Inc., a Delaware corporation (with its subsidiaries, “Blyth” or the “Company”, which may be referred to as “we,” “us” or “our”) is offering to purchase for cash up to 4,000,000 shares of its c...
expiry = 2004-07-09...in the offer to purchase dated June 7, 2004 (the “Offer to Purchase”) and the related letter of transmittal (which together constitute the “Offer”). THE OFFER, PRORATION PERIOD, AND WITHDRAWAL RIGHTS WILL EXPIRE AT 5:00 PM, NEW YORK CITY TIME, ON FRIDAY, JULY 9, 2004 (THE “EXPIRATION DATE”), UNLESS THE OFFER IS EXTENDED. The Offer is not conditioned on any minimum number of shares being tendered. The Offer is, however, subject to other conditions as set forth in Section 7 of the Offer to Purchase. The...
listed = True...S TO TENDER AND THE PRICE OR PRICES AT WHICH TO TENDER YOUR SHARES. IN SO DOING, YOU SHOULD READ CAREFULLY THE INFORMATION IN THIS OFFER TO PURCHASE AND IN THE LETTER OF TRANSMITTAL, INCLUDING OUR REASONS FOR MAKING THE TENDER OFFER. The shares are listed and traded on the New York Stock Exchange (the “NYSE”) under the trading symbol “BTH.” We publicly announced the tender offer on June 7, 2004, prior to the commencement of trading on the NYSE on that date. On June 4, 2004, the reported closing price of the shares on the NYSE was $33.43 per share. We urge stockholders to obtain current market quotations for the shares. See Section 8. You ma...
mechanism = DUTCH...per share as low as $30.00 or as high as $35.00. If tendering stockholders wish to maximize the chance that Blyth will purchase their shares, they should check the box in the section of the letter of transmittal captioned “Shares Tendered at Price Determined By Dutch Auction.” Note that this election could result in the tendered shares being purchased at the minimum price of $30.00 per share. To tender shares properly, stockholders must specify one and only one price box in the appropriate section in each letter of transmittal. If you specify more than one price or if you fail to check any price at all you w...
must_tender_all = True...e holder’s shares are purchased in the tender offer (for which the condition was not initially satisfied) by random lot, to the extent feasible. To be eligible for purchase by random lot, stockholders whose shares are conditionally tendered must have properly tendered all of their shares and not properly withdrawn any of their shares. We may not purchase all of the shares tendered pursuant to the tender offer even if the shares are tendered at or below the purchase price. See Section 1, Section 5 and Section 6, respectively, for additional information concerning priority, proration and conditional tender procedures. Sect...
price = USD 30.0-35.0...We urge stockholders to obtain current market quotations for the shares. 9. Source and Amount of Funds. Assuming that 4,000,000 shares are purchased in the tender offer at a price between $30.00 and $35.00 per share, the aggregate purchase price will be between approximately $120 million and $140 million. Blyth expects that its related fees and expenses for the tender offer will be approximately $700,000. Blyth anticipates that it...
threshold = 100...s held by owners of less than 100 shares), which we will purchase on a priority basis as described in the immediately following paragraph and except for shares that were conditionally tendered and for which the condition was not satisfied. See Section 1. If I own fewer than 100 shares and I tender all of my shares, will I be subject to proration? If you own beneficially or of record fewer than 100 shares in the aggregate, you properly tender all of these shares at or below the purchase price before the tender offer expires and you complete the 1 Table of Contents section entitled “Odd Lots” in the letter of transmitta...
txn_type = TENDER_OFFEREX-99.(A)(1)(A) 2 dex99a1a.htm OFFER TO PURCHASE, DATED JUNE 7, 2004 Offer to Purchase, dated June 7, 2004 Table of Contents Exhibit (a)(1)(A) Offer to Purchase for Cash Up to 4,000,000 Shares of its Common Stock At a Purchase Price Not Greater Than $35.00 Nor Less Than $30.00 Per Share by Blyth, Inc. THE TENDER OFFER, PRORATION PERIOD AND WITHDRAWAL RIGHTS WILL EXPIRE AT 5:00 P.M., NE...
txn_type = TENDER_OFFEREX-99.(A)(5)(G) 3 dex99a5g.htm SUMMARY ADVERTISEMENT DATED JUNE 9, 2004 Summary Advertisement dated June 9, 2004 Exhibit (a)(5)(G) This announcement is neither an offer to purchase nor a solicitation of an offer to sell shares. The tender offer is made solely by the offer to purchase dated June 7, 2004, and the related letter of transmittal and any amendments or supplements thereto. The tender offer is not being made to, nor will tenders be accepted from or on behalf of, holders of shares in any jurisdiction in whi...

The filings

FiledFormRoleOn EDGAR
2004-06-07SC TO-Ioriginal (governing)View
2004-06-10SC TO-I/AamendmentView