Odd Lot Index

LIBERTY MEDIA CORP QRTEA

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 date2007-04-05
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 $105.00 to $113.00 per share, in steps of $0.10
Most an odd-lot tender could be$10,395.00 to $11,187.00

How it finished

Everyone else99.3778%
Expired2007-04-05
Proration factor99.4%

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...ct to proration? If you beneficially own fewer than 100 LCAPA and LCAPB shares, in the aggregate, you properly tender all of your Shares at or below the purchase price and do not properly withdraw them prior to the expiration date for the tender offer and you complete the section entitled “Odd Lots” in the letter of transmittal and, if applicable, in the notice of guaranteed delivery, we will purchase all of your Shares without subjecting them to the proration procedure. See Section 1. What is the market price of my Shares as of a recent date? On February 27, 2007, the last full trading day before the initial public announcement of the tender offer, the closing...
election_required = True...f my Shares, will I be subject to proration? If you beneficially own fewer than 100 LCAPA shares, you properly tender all of your Shares at or below the purchase price and do not properly withdraw them prior to the expiration date for the tender offer and you complete the section entitled “Odd Lots” in the letter of transmittal and, if applicable, in the notice of guaranteed delivery, we will purchase all of your Shares without subjecting them to the proration procedure. See Section 1. What is the market price of my Shares as of a recent date? On February 27, 2007, the last full trading day before the initial public announcement of the tender offer, the closing...
expiry = 2007-04-05...CAPITAL SERIES A COMMON STOCK AND LIBERTY CAPITAL SERIES B COMMON STOCK, AT A PURCHASE PRICE NOT GREATER THAN $113.00 OR LESS THAN $105.00 PER SHARE THE OFFER, PRORATION PERIOD AND WITHDRAWAL RIGHTS EXPIRE AT 5:00 PM, NEW YORK CITY TIME, ON APRIL 5, 2007, UNLESS THE TENDER OFFER IS EXTENDED. Liberty Media Corporation, a Delaware corporation, is offering to purchase, for cash, up to 8,849,500 shares of its Liberty Capital Series A common stock, par value $0.01 per share, which we refer to a...
expiry = 2007-04-05...CASH UP TO 8,849,500 SHARES OF ITS LIBERTY CAPITAL SERIES A COMMON STOCK, AT A PURCHASE PRICE NOT GREATER THAN $113.00 OR LESS THAN $105.00 PER SHARE THE OFFER, PRORATION PERIOD AND WITHDRAWAL RIGHTS EXPIRE AT 5:00 PM, NEW YORK CITY TIME, ON APRIL 5, 2007, UNLESS THE TENDER OFFER IS EXTENDED. Liberty Media Corporation, a Delaware corporation, is offering to purchase, for cash, up to 8,849,500 shares of its Liberty Capital Series A common stock, par value $0.01 per share, which we refer to a...
listed = True...rchase Shares tendered at prices greater than the purchase price. Shares tendered but not purchased in the tender offer will be returned to the tendering stockholders at our expense promptly after the expiration of the tender offer. The LCAPA and LCAPB shares trade on the Nasdaq Global Select Market under the symbols “LCAPA” and “LCAPB”, respectively. On February 27, 2007, the last full trading day before the initial public announcement of the tender offer, the closing sale price on the Nasdaq Global Select Market for the LCAPA and LCAPB shares was $103.71 and $105.70, respectively. Stockholders are urged to obt...
listed = True...ill not purchase Shares tendered at prices greater than the purchase price. Shares tendered but not purchased in the tender offer will be returned to the tendering stockholders at our expense promptly after the expiration of the tender offer. The LCAPA shares trade on the Nasdaq Global Select Market under the symbol “LCAPA”. On February 27, 2007, the last full trading day before the initial public announcement of the tender offer, the closing sale price on the Nasdaq Global Select Market for the LCAPA shares was $103.71. Stockholders are urged to obtain current market quotations for the Shares. See Section 8. OU...
mechanism = DUTCH...ou will find a more complete discussion. Who is offering to purchase my LCAPA and LCAPB shares? Liberty Media Corporation. What will the purchase price for the LCAPA and LCAPB shares be? We are conducting the tender offer 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 Shares. The lowest price that may be specified is $105.00. The prices that may be specified increase in increments of $0.10 up to $113.00 and the highest price that may be specified...
mechanism = DUTCH...to purchase where you will find a more complete discussion. Who is offering to purchase my LCAPA shares? Liberty Media Corporation. What will the purchase price for the LCAPA shares be? We are conducting the tender offer 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 Shares. The lowest price that may be specified is $105.00. The prices that may be specified increase in increments of $0.10 up to $113.00 and the highest price that may be specified...
mechanism = DUTCH...viy.htm PRESS RELEASE exv99wxayx5yxviy Exhibit (a)(5)(vi) Liberty Media Corporation Announces Preliminary Results of Tender Offer Englewood, Colorado — April 6, 2007 — Liberty Media Corporation (Nasdaq: LCAPA) (“Liberty”) announced today the expiration of its modified dutch auction self-tender offer to purchase up to 8,849,500 shares of its Liberty Capital Series A common stock. The tender offer expired at 5:00 p.m., New York City time, on April 5, 2007. Based on the preliminary tabulation by the depositary, the tender offer was oversubscribed and the purchase price for the tender offer is $113.00 per share. Libert...
mechanism = DUTCH...iiy.htm PRESS RELEASE exv99wxayx5yxviiy Exhibit (a)(5)(vii) Liberty Media Corporation Announces Final Results of Tender Offer Englewood, Colorado — April 12, 2007 — Liberty Media Corporation (Nasdaq: LCAPA) (“Liberty”) announced today the final results of its modified dutch auction self-tender offer to purchase up to 8,849,500 shares of its Liberty Capital Series A common stock, which expired on April 5, 2007. Based on the final tabulation by the depositary for the tender offer the purchase price for the tender offer is $113.00 per LCAPA share, which purchase price represents the maximum of the tender offer price r...
must_tender_all = True...t for payment, subject to applicable law) are properly tendered at or below the purchase price and not properly withdrawn prior to the expiration date for the tender offer, we will purchase shares: first, from all holders of “odd lots” of less than 100 Shares who properly tender all of their Shares at or below the purchase price and do not properly withdraw them before the expiration date for the tender offer; second, from all other stockholders who properly tender Shares at or below the purchase price and do not properly withdraw them before the expiration date, on a pro rata basis (except for stockholders who tendered Shares cond...
must_tender_all = True...t for payment, subject to applicable law) are properly tendered at or below the purchase price and not properly withdrawn prior to the expiration date for the tender offer, we will purchase shares: first, from all holders of “odd lots” of less than 100 Shares who properly tender all of their Shares at or below the purchase price and do not properly withdraw them before the expiration date for the tender offer; second, from all other stockholders who properly tender Shares at or below the purchase price and do not properly withdraw them before the expiration date, on a pro rata basis (except for stockholders who tendered Shares cond...
price = USD 105.0-113.0...price that may be specified is $105.00. The prices that may be specified increase in increments of $0.10 up to $113.00 and the highest price that may be specified is $113.00. The price range for the tender offer is $105.00 to $113.00 per Share. We will determine the purchase price that we will pay per Share promptly after the tender offer expires and the purchase price for the LCAPA and LCAPB shares will be identical. The purchase price will be the...
price = USD 105.0-113.0...price that may be specified is $105.00. The prices that may be specified increase in increments of $0.10 up to $113.00 and the highest price that may be specified is $113.00. The price range for the tender offer is $105.00 to $113.00 per Share. We will determine the purchase price that we will pay per Share promptly after the tender offer expires. The purchase price will be the lowest price at which, based on the number of LCAPA shares tendered and...
price = USD 113.0...al 2% of its outstanding LCAPA shares in the tender offer without extending the tender offer. Accordingly, Liberty expects to purchase approximately 11.5 million LCAPA shares at a purchase price of $113.00 per share, in accordance with the terms and conditions of the tender offer. Because the tender offer was oversubscribed, the number of LCAPA shares that Liberty will purchase from each stockholder that tendered LCAPA shares withi...
threshold = 100...ave tendered all of their Shares. Because of the “odd lot” priority, proration and conditional tender provisions described above, we may not purchase all of the Shares that you tender even if you tender them at or below the purchase price. See Section 1. If I own fewer than 100 shares of LCAPA and LCAPB and I tender all of my Shares, will I be subject to proration? If you beneficially own fewer than 100 LCAPA and LCAPB shares, in the aggregate, you properly tender all of your Shares at or below the purchase price and do not properly withdraw them prior to the expiration date for the tender offer and you complete the s...
threshold = 100...ugh those Shares were tendered at prices at or below the purchase price. Odd Lots. The term “odd lots” means all LCAPA shares properly tendered prior to the expiration date at prices at or below the purchase price and not properly withdrawn by any person (an “Odd Lot Holder”) who beneficially owned fewer than 100 LCAPA shares, and so certified in the appropriate place in the letter of transmittal and, if applicable, in the appropriate notice of guaranteed delivery. To qualify for the odd lot preference with respect to the tender offer, an Odd Lot Holder must tender all LCAPA shares owned by the Odd Lot Holder in accordance with the procedures described in Sec...
txn_type = TENDER_OFFEREX-99.(A)(1)(I) 2 d44266exv99wxayx1yxiy.htm OFFER TO PURCHASE exv99wxayx1yxiy Table of Contents Exhibit (a)(1)(i) LIBERTY MEDIA CORPORATION OFFER TO PURCHASE FOR CASH UP TO 8,849,500 SHARES OF ITS LIBERTY CAPITAL SERIES A COMMON STOCK AND LIBERTY CAPITAL SERIES B COMMON STOCK, AT A PURCHASE PRICE NOT GREATER THAN $113.00 OR LESS THAN $105.00 PER SHARE THE OFFER, PRORATION PERIOD AND WITHDRAWAL RIGH...
txn_type = TENDER_OFFEREX-99.(A)(1)(I) 2 d44735a1exv99wxayx1yxiy.htm OFFER TO PURCHASE, AS AMENDED AND RESTATED exv99wxayx1yxiy Table of Contents Exhibit (a)(1)(i) LIBERTY MEDIA CORPORATION OFFER TO PURCHASE FOR CASH UP TO 8,849,500 SHARES OF ITS LIBERTY CAPITAL SERIES A COMMON STOCK, AT A PURCHASE PRICE NOT GREATER THAN $113.00 OR LESS THAN $105.00 PER SHARE THE OFFER, PRORATION PERIOD AND WITHDRAWAL RIGHTS EXPIRE AT 5:00...
txn_type = TENDER_OFFER...viy Exhibit (a)(5)(vi) Liberty Media Corporation Announces Preliminary Results of Tender Offer Englewood, Colorado — April 6, 2007 — Liberty Media Corporation (Nasdaq: LCAPA) (“Liberty”) announced today the expiration of its modified dutch auction self-tender offer to purchase up to 8,849,500 shares of its Liberty Capital Series A common stock. The tender offer expired at 5:00 p.m., New York City time, on April 5, 2007. Based on the preliminary tabulation by the depositary, the tender offer was oversubscribed and the purchase price for the tender offer is $113.00 per share. Liberty also announced that it inten...
txn_type = TENDER_OFFER...viiy Exhibit (a)(5)(vii) Liberty Media Corporation Announces Final Results of Tender Offer Englewood, Colorado — April 12, 2007 — Liberty Media Corporation (Nasdaq: LCAPA) (“Liberty”) announced today the final results of its modified dutch auction self-tender offer to purchase up to 8,849,500 shares of its Liberty Capital Series A common stock, which expired on April 5, 2007. Based on the final tabulation by the depositary for the tender offer the purchase price for the tender offer is $113.00 per LCAPA share, which purchase price represents the maximum of the tender offer price range. Based on the final tabul...
expired_on = 2007-04-05...on (Nasdaq: LCAPA) (“Liberty”) announced today the final results of its modified dutch auction self-tender offer to purchase up to 8,849,500 shares of its Liberty Capital Series A common stock, which expired on April 5, 2007. Based on the final tabulation by the depositary for the tender offer the purchase price for the tender offer is $113.00 per LCAPA share, which purchase price represents the maximum of the tender offer price range. Based on the final tabulation by the depositary for the tender o...
proration_pct = 99.3778...% of its outstanding LCAPA shares in the tender without extending the tender offer. Accordingly, Liberty has accepted for purchase 11,540,680 LCAPA shares. The depositary has advised Liberty that the final proration factor was approximately 99.3778% for the tender offer. Any “odd lot” shares of Liberty Capital Series A common stock properly tendered and not withdrawn will not be subject to proration. The depositary will promptly issue payment for the LCAPA shares validly tendered and accepted for purchase and will return al...

The filings

FiledFormRoleOn EDGAR
2007-03-07SC TO-Ioriginal (governing)View
2007-03-20SC TO-I/AamendmentView
2007-04-06SC TO-I/AamendmentView
2007-04-12SC TO-I/AamendmentView