Odd Lot Index

ENERGIZER HOLDINGS INC EPC

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 date2002-08-30
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 $25.50 to $29.00 per share
Most an odd-lot tender could be$2,524.50 to $2,871.00

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...elow) who: (a) tenders all shares owned beneficially or of record by the Odd Lot Holder at a price at or below the purchase price selected by us (tenders of less than all of the shares owned by the Odd Lot Holder will not qualify for this preference); and (b) completes the section entitled “Odd Lots” in the Letter of Transmittal and, if applicable, in the Notice of Guaranteed Delivery. • Second, after the purchase of all of the shares properly tendered by Odd Lot Holders, 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, on a pro rata basis with appropriate ad...
expiry = 2002-08-30...6,000,000 Shares of its Common Stock (Including the Associated Common Stock Purchase Rights) At a Purchase Price Not Greater Than $29.00 nor Less Than $25.50 Per Share The offer and withdrawal rights will expire at 12:00 Midnight, New York City time, on Friday, August 30, 2002, unless the offer is extended. Energizer Holdings, Inc., a Missouri corporation, invites its shareholders to tender up to 6,000,000 shares of its common stock, $.01 par value per share, for purchase by it at a price not greater than $29.00...
mechanism = DUTCH...ck and the associated common stock purchase rights. No separate consideration will be paid for these rights. What will the purchase price for the shares be and what will be the form of payment? We are conducting the offer through a procedure commonly called a modified “Dutch Auction.” This procedure allows you to select the price (in multiples of $0.25) within a price range specified by us at which you are willing to sell your shares. The price range for this offer is $25.50 to $29.00 per share. We will select the lowest purchase price that will allow us to buy 6,000,000 shares or, if a lesser number of shares are p...
must_tender_all = True...tary or if your shares have been tendered under the procedure for book-entry transfer set forth in Section 3. See Section 4. In what order will tendered shares be purchased? First, we will purchase shares from all holders of “odd lots” of less than 100 shares who properly tender all of their shares at or below the purchase price selected by us. Second, after purchasing all shares from the “odd lot” holders, we will purchase shares from all other shareholders who properly tender shares at or below the purchase price selected by us, on a pro rata basis, subject to the conditional tender provisions described in Section 6. Finally, if...
price = USD 25.5-29.0...ified “Dutch Auction.” This procedure allows you to select the price (in multiples of $0.25) within a price range specified by us at which you are willing to sell your shares. The price range for this offer is $25.50 to $29.00 per share. We will select the lowest purchase price that will allow us to buy 6,000,000 shares or, if a lesser number of shares are properly tendered, all shares that are properly tendered and not withdrawn. All shares...
threshold = 100...that a shareholder tenders in the offer may not be purchased even if they are tendered at prices at or below the purchase price. Odd Lots. The term “Odd Lots” means all shares tendered at prices at or below the purchase price selected by us by any person (an “Odd Lot Holder”) who owned beneficially or of record a total of fewer than 100 shares and so certified in the appropriate place on the Letter of Transmittal and, if applicable, on the Notice of Guaranteed Delivery. To qualify for this preference, an Odd Lot Holder must tender all shares owned by the Odd Lot Holder in accordance with the procedures described in Section 3. Odd Lots will be accepted for payment before any pr...
txn_type = TENDER_OFFEREX-99.(A)(1)(A) 3 dex99a1a.htm OFFER TO PURCHASE Prepared by R.R. Donnelley Financial -- Offer to Purchase Exhibit (a)(1)(A) Offer to Purchase for Cash by Energizer Holdings, Inc. of Up to 6,000,000 Shares of its Common Stock (Including the Associated Common Stock Purchase Rights) At a Purchase Price Not Greater Than $29.00 nor Less Than $25.50 Per Share The offer and withdrawal rights...

The filings

FiledFormRoleOn EDGAR
2002-08-05SC TO-Ioriginal (governing)View