Odd Lot Index

Liberty Global, 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 date2007-09-10
How it is pricedDutch auction
Odd-lot thresholdFewer than 100 shares
Must tender everything you holdYes
Must tick the odd-lot box on the formNot stated
Price offeredUSD $40.00 to $44.00 per share, in steps of $0.10
Most an odd-lot tender could be$3,960.00 to $4,356.00

How it finished

Everyone else85.0879%
Expired2007-09-10
Shares tendered12,124,236
Shares accepted5,682,000
Proration factor85.1%
Overall acceptance46.9%
stated proration 85.08785% applies to the prorated pool; overall acceptance was 46.86%. The difference is expected: odd lots, withdrawn conditional tenders or a top-up right sit outside that pool

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.

expiry = 2007-09-10...,682,000 SHARES OF ITS SERIES C COMMON STOCK, PAR VALUE $0.01 PER SHARE, AT A PURCHASE PRICE NOT GREATER THAN $44.00 NOR LESS THAN $40.00 PER SHARE THE OFFERS, PRORATION PERIODS AND WITHDRAWAL RIGHTS EXPIRE AT 5:00 P.M., NEW YORK CITY TIME, ON SEPTEMBER 10, 2007, UNLESS THE OFFERS ARE EXTENDED. Liberty Global, Inc., a Delaware corporation, is offering to purchase, for cash, up to 5,682,000 shares of its Series A common stock, par value $0.01 per share, and up to 5,682,000 shares of its Series C co...
listed = True...prices greater than the Series C purchase price. Shares tendered but not purchased in either tender offer will be returned to the tendering stockholders at our expense promptly after the expiration of such tender offer. The Series A shares and Series C shares trade on the Nasdaq Global Select Market under the symbols “LBTYA” and “LBTYK,” respectively. On August 2, 2007, the last full trading day before the initial public announcement of the tender offers, the closing sale price on the Nasdaq Global Select Market for the Series A shares was $42.11 and the closing sale price for the Series C shares was $39.89. Sto...
mechanism = DUTCH...INAL RESULTS OF DUTCH AUCTION SELF-TENDER OFFERS Exercised Right to Purchase Additional Series C Shares Englewood, Colorado — September 14, 2007: Liberty Global, Inc. (“Liberty Global”) (NASDAQ: LBTYA, LBTYB and LBTYK) announced today the final results of its modified Dutch auction self-tender offers to purchase up to 5,682,000 shares of its Series A common stock and up to 5,682,000 shares of its Series C common stock, which expired at 5:00 p.m., New York City time, on September 10, 2007. Based on the final tabulation by the depositary for the tender offers and the number of shares accepted for purchase under each...
mechanism = DUTCH...ns of this offer to purchase where you will find a more complete discussion. Who is offering to purchase my shares? Liberty Global, Inc. What will the purchase prices for the shares be? We are conducting the tender offers through a procedure commonly called a modified “Dutch Auction.” This procedure allows you to select the price per share (in increments of $0.10) within a price range specified by us at which you are willing to sell your Series A shares and/or Series C shares. We will determine the purchase price that we will pay per Series A share promptly after the Series A tender offer expires. The Series A purch...
mechanism = DUTCH...esults of Dutch Auction Self- Tender Offers for Shares of Its Series A Common Stock and Series C Common Stock Denver, Colorado — September 11, 2007: Liberty Global, Inc. (“Liberty Global”) (NASDAQ: LBTYA, LBTYB and LBTYK) announced today the expiration of its modified Dutch auction self-tender offers to purchase up to 5,682,000 shares of its Series A common stock and up to 5,682,000 shares of its Series C common stock. Both tender offers expired at 5:00 p.m., New York City time, on September 10, 2007. Based on the preliminary tabulation by the depositary, the Series A tender offer was oversubscribed as approximatel...
must_tender_all = True...ll tenders by a particular taxpayer as a single lot, and will limit our purchase in each case to the designated minimum number of shares to be purchased. To be eligible for purchase by random lot, stockholders whose shares are conditionally tendered must have tendered all of their shares. 7. CONDITIONS OF THE TENDER OFFERS Notwithstanding any other provision of the tender offers, and in addition to (and not in limitation of) our rights to extend and/or amend either or both tender offers at any time, we will not be required to accept for payment, 20 Table of Contents purchase or pay for any shares tendered, and may termin...
price = USD 40.0-44.0...d to obtain current market quotations for their shares. 9. SOURCE AND AMOUNT OF FUNDS Assuming that 5,682,000 Series A shares are purchased in the Series A tender offer at a price between $40.00 and $44.00 per share, the aggregate purchase price for the Series A shares purchased in the Series A tender offer will be between $227,280,000 and $250,008,000. Assuming that 5,682,000 Series C shares are purchased in the Series C 23 Table...
threshold = 100...use of the “odd lot” priority, proration and conditional tender provisions described above, we may not purchase all of the Series C shares that you tender even if you tender them at or below the Series C purchase price. See Section 1. 2 Table of Contents If I own fewer than 100 shares of either or both series of common stock subject to the tender offers and I tender all of my shares, will I be subject to proration? If you beneficially own fewer than 100 shares of Series A common stock, in the aggregate, you properly tender all of these shares at or below the Series A purchase price and do not properly withdraw them pr...
txn_type = TENDER_OFFEREX-99.(A)(5)(IV) 2 d49908a2exv99wxayx5yxivy.htm PRESS RELEASE exv99wxayx5yxivy Exhibit (a)(5)(iv) LIBERTY GLOBAL ANNOUNCES FINAL RESULTS OF DUTCH AUCTION SELF-TENDER OFFERS Exercised Right to Purchase Additional Series C Shares Englewood, Colorado — September 14, 2007: Liberty Global, Inc. (“Liberty Global”) (NASDAQ: LBTYA, LBTYB and LBTYK) announced today the final results of its modified Dutch auction self-tender offers to purchase up to 5,682,000 shares of its Series A common stock and up to 5,682,000 s...
txn_type = TENDER_OFFEREX-99.(A)(1)(I) 2 d48682exv99wxayx1yxiy.htm OFFER TO PURCHASE exv99wxayx1yxiy Table of Contents Exhibit (a)(1)(i) LIBERTY GLOBAL, INC. OFFER TO PURCHASE FOR CASH UP TO 5,682,000 SHARES OF ITS SERIES A COMMON STOCK, PAR VALUE $0.01 PER SHARE, AT A PURCHASE PRICE NOT GREATER THAN $44.00 NOR LESS THAN $40.00 PER SHARE AND OFFER TO PURCHASE FOR CASH UP TO 5,682,000 SHARES OF ITS SERIES C COMMON STOCK,...
txn_type = TENDER_OFFEREX-99.(A)(5)(III) 2 d49840exv99wxayx5yxiiiy.htm PRESS RELEASE exv99wxayx5yxiiiy Exhibit (a)(5)(iii) Liberty Global Announces Preliminary Results of Dutch Auction Self- Tender Offers for Shares of Its Series A Common Stock and Series C Common Stock Denver, Colorado — September 11, 2007: Liberty Global, Inc. (“Liberty Global”) (NASDAQ: LBTYA, LBTYB and LBTYK) announced today the expiration of its modified Dutch auction self-tender offers to purchase up to 5,682,000 shares of its Series A common stock and up to 5,682,...
accepted = 5682000...price of $40.00 per Series C share. Liberty Global has exercised its right to purchase up to an additional 2% of its outstanding Series C common stock in the Series C tender offer. Liberty Global has accepted for purchase 5,682,000 shares of its Series A common stock and 9,510,517 shares of its Series C common stock, representing a total purchase of approximately $625 million. The depositary has advised Liberty Global that the final proration factor was 85.08785% for the Series A tender offer and 83.5237% for the...
expired_on = 2007-09-10...today the final results of its modified Dutch auction self-tender offers to purchase up to 5,682,000 shares of its Series A common stock and up to 5,682,000 shares of its Series C common stock, which expired at 5:00 p.m., New York City time, on September 10, 2007. Based on the final tabulation by the depositary for the tender offers and the number of shares accepted for purchase under each tender offer, the purchase price for the Series A tender offer is $43.00 per share and the purchase price for the Series C tender offer is $40.00 per...
proration_pct = 85.08785...shares of its Series A common stock and 9,510,517 shares of its Series C common stock, representing a total purchase of approximately $625 million. The depositary has advised Liberty Global that the final proration factor was 85.08785% for the Series A tender offer and 83.5237% for the Series C tender offer. Any “odd lot” shares of Series A common stock or Series C common stock properly tendered and not withdrawn at or below the applicable purchase price will not be subject to proration. The information agent...
tendered = 12124236...$44.00 for the Series C tender offer. A majority of the shares tendered in each tender offer were tendered at a price equal to or greater than $43.00. Based on the final tabulation by the depositary, 12,124,236 shares of Series A common stock were properly tendered and not withdrawn, of which 6,715,232 shares of Series A common stock were properly tendered and not withdrawn at or below the purchase price of $43.00 per Series A share. Also based on the final tabulation by the depositary, 52,595,883 shares of Series C common stock were prope...

The filings

FiledFormRoleOn EDGAR
2007-08-10SC TO-Ioriginal (governing)View
2007-09-11SC TO-I/AamendmentView
2007-09-14SC TO-I/AamendmentView