HOME DEPOT INC HD
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.
| Status | Closed |
|---|---|
| Closing date | 2007-08-16 |
| How it is priced | Dutch auction |
| Odd-lot threshold | Fewer than 100 shares |
| Must tender everything you hold | Yes |
| Must tick the odd-lot box on the form | Yes |
| Cleared at | $44.00 |
| Most an odd-lot tender could be | $4,356.00 |
How it finished
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...will I be subject to proration? If you own beneficially or of record fewer than 100 shares in the aggregate, you validly tender all of these shares at or below the purchase price selected by us and do not withdraw such tender before the Offer expires and you complete the section entitled “Odd Lots” in the Letter of Transmittal, we will purchase all of your shares without subjecting them to the proration procedure. See Section 1. Once I have tendered shares in the Offer, can I withdraw my tender? Yes. You may withdraw any shares you have tendered at any time before 5:00 p.m., New York City time, on Thursday, August 16, 2007, unless we extend the Offer, in which...
election_required = True...t separate Amended Letters of Transmittal on your behalf for each price you designate. 2 11. If you are an Odd Lot Holder and you instruct us to tender on your behalf all of the shares that you own at or below the purchase price before the Expiration Time and check the box captioned “Odd Lots” on the attached Instruction Form, the Company, on the terms and subject to the conditions of the Offer, will accept all such shares for purchase before proration, if any, of the purchase of other shares validly tendered at or below the purchase price and not validly withdrawn before the Expiration Time. 12. If you wish to condition your...
expiry = 2007-08-16...sh by The Home Depot, Inc. of Up to 250 million Shares of its Common Stock at a Purchase Price not greater than $44.00 nor less than $39.00 per Share THE OFFER, PRORATION PERIOD AND WITHDRAWAL RIGHTS WILL EXPIRE AT 5:00 P.M., NEW YORK CITY TIME, ON AUGUST 16, 2007, UNLESS THE OFFER IS EXTENDED (THE “EXPIRATION TIME”). The Home Depot, Inc., a Delaware corporation (the “Company,” “Home Depot,” “our,” “we,” or “us”), is offering to purchase for cash up to 250 million shares of its common stock, $0.05 p...
expiry = 2007-08-16...xes and without interest, upon the terms and subject to the conditions described in the Original Offer to Purchase and the Original Letter of Transmittal. The tender offer was previously scheduled to expire at 5:00 P.M., New York City time, on August 16, 2007. The Company has decreased the price per share at which shareholders may tender shares to a price not greater than $42.00 per share nor less than $37.00 per share, net to the seller in cash, less any applicable withholding taxes and withou...
listed = True...ditions, including our ability to effect up to $10.0 billion of Borrowings under the Tender Offer Financing Facility (if we have not received the proceeds from the sale of HD Supply) (the “Financing Condition”). See Sections 7 and 9. The shares are listed and traded on the New York Stock Exchange (the “NYSE”) under the symbol “HD.” On July 9, 2007, the last full trading day before the announcement of the Offer, the last reported sale price of our common stock on the NYSE was $40.23 per share. Shareholders are urged to obtain current market quotations for the shares. See Section 8. Our Board of Directors has approved our making the Offer. Ho...
mechanism = DUTCH...reby increase their percentage ownership of Home Depot following the completion of the Offer. See Section 2. 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 increments of $0.25) within a price range specified by us at which you are willing to sell your shares. The price range for the Offer is $39.00 to $44.00 per share. The purchase price will be the lowest price at which, based on the number of shares tendered and the prices specified by t...
must_tender_all = True...res (or such greater number of shares as we may elect to purchase, subject to applicable law) are validly tendered and not validly withdrawn prior to the Expiration Time, we will purchase shares: • first, from all holders of “odd lots” of less than 100 shares who validly tender all of their shares at or below the purchase price selected by us, and do not validly withdraw them before the Expiration Time; iv • second, from all other shareholders who validly tender shares at or below the purchase price selected by us, on a pro rata basis (except for shareholders who tendered shares conditionally for which the condition was not satisf...
must_tender_all = True...ow the purchase price subject to the condition that a specified minimum number of the holder’s shares are purchased in the Offer, as described in Section 6 of the Offer to Purchase (for which the condition was not initially satisfied, and provided the holders tendered all of their shares) by random lot, to the extent feasible. See Sections 1, 3 and 6 of the Offer to Purchase. We are the owner of record of shares held for your account. As such, we are the only ones who can tender your shares, and then only pursuant to your instructions. We are sending you the Amended Letter of Transmittal for your information only; you ca...
price = USD 39.0-44.0...fied “Dutch Auction.” This procedure allows you to select the price (in increments of $0.25) within a price range specified by us at which you are willing to sell your shares. The price range for the Offer is $39.00 to $44.00 per share. The purchase price will be the lowest price at which, based on the number of shares tendered and the prices specified by the tendering shareholders, we can purchase 250 million shares, or such lesser number o...
threshold = 100...of shares, it is possible that none of those shares will be purchased. Odd Lots. The term “Odd Lots” means all shares validly tendered prior to the Expiration Time at prices at or below the purchase price selected by us and not validly withdrawn by any person 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 (an “Odd Lot Holder”). To qualify for this preference, an Odd Lot Holder must tender all shares he or she owns in accordance with the procedures described in Section 3. Odd Lots will be accepted for payment befo...
threshold = 100...shares as the Company may elect to purchase, subject to applicable law) are validly tendered at or below the purchase price and not validly withdrawn, the Company will buy shares first, from all shareholders who own beneficially or of record, an aggregate of fewer than 100 shares (an “Odd Lot Holder”) who validly tender all their shares at or below the purchase price, second, on a pro rata basis from all other shareholders who validly tender shares at or below the purchase price, subject to any conditional tenders, and third, if necessary to permit the Company to purchase 250 million shares (or any such greater number of shar...
txn_type = TENDER_OFFEREX-99.(A)(1)(A) 2 g08010exv99wxayx1yxay.htm EX-99.(A)(1)(A) OFFER TO PURCHASE EX-99.(A)(1)(A) OFFER TO PURCHASE Exhibit (a)(1)(A) Offer to Purchase for Cash by The Home Depot, Inc. of Up to 250 million Shares of its Common Stock at a Purchase Price not greater than $44.00 nor less than $39.00 per Share THE OFFER, PRORATION PERIOD AND WITHDRAWAL RIGHTS WILL EXPIRE AT 5:00 P.M., NEW YORK CITY TIME, ON AUGUST 16, 200...
txn_type = TENDER_OFFEREX-99.(A)(1)(V) 6 g08828a3exv99wxayx1yxvy.htm (A)(1)(V) LETTER TO CLIENTS (a)(1)(V) LETTER TO CLIENTS Exhibit (a)(1)(V) Offer to Purchase for Cash by The Home Depot, Inc. of Up to 250 Million Shares of its Common Stock at a Purchase Price not greater than $42.00 nor less than $37.00 per Share THE OFFER, PRORATION PERIOD AND WITHDRAWAL RIGHTS WILL EXPIRE AT 5:00 P.M., NEW YORK CITY TIME, AUGUST 31, 2007 (THE “EXPIRATION TIME”), UNLESS THE OFFER IS EXTENDED. To Our Clients:...
final_price = 44.0...owever, subject to other conditions, including the Financing Condition. See Section 7. How will the Company pay for the shares? Assuming 250 million shares are repurchased in the Offer at the maximum purchase price of $44.00 per share, the aggregate purchase price will be $11.0 billion. We intend to pay for the shares purchased in the Offer with $9.5 billion of net proceeds from the sale of HD Supply and $1.5 billion of available cash. If the sale of HD Supply has not been completed when we are required to pa...
The filings
| Filed | Form | Role | On EDGAR |
|---|---|---|---|
| 2007-07-10 | SC TO-I | original (governing) | View |
| 2007-08-10 | SC TO-I/A | amendment | View |