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 date2007-06-12
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 $23.75 to $25.75 per share, in steps of $0.10
Most an odd-lot tender could be$2,351.25 to $2,549.25

How it finished

Everyone else70.3952%
Expired2007-06-12
Proration factor70.4%

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...f my Shares, will I be subject to proration? If you beneficially own fewer than 100 LINTA 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 May 8, 2007, the last full trading day before the initial public announcement of the tender offer, the closing sale...
expiry = 2007-06-12...H UP TO 19,417,476 SHARES OF ITS LIBERTY INTERACTIVE SERIES A COMMON STOCK, AT A PURCHASE PRICE NOT GREATER THAN $25.75 OR LESS THAN $23.75 PER SHARE THE OFFER, PRORATION PERIOD AND WITHDRAWAL RIGHTS EXPIRE AT 5:00 PM, NEW YORK CITY TIME, ON JUNE 12, 2007, UNLESS THE TENDER OFFER IS EXTENDED. Liberty Media Corporation, a Delaware corporation, is offering to purchase, for cash, up to 19,417,476 shares of its Liberty Interactive Series A common stock, par value $0.01 per share, which we refer...
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 LINTA shares trade on the Nasdaq Global Select Market under the symbol “LINTA”. On May 8, 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 LINTA shares was $23.81. Stockholders are urged to obtain current market quotations for the Shares. See Section 8. OUR BOARD...
mechanism = DUTCH...to purchase where you will find a more complete discussion. Who is offering to purchase my LINTA shares? Liberty Media Corporation. What will the purchase price for the LINTA 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 $23.75. The prices that may be specified increase in increments of $0.10 up to $25.75 and the highest price that may be specified i...
mechanism = DUTCH...33exv99wxayx5yxvy.htm PRESS RELEASE exv99wxayx5yxvy Exhibit (a)(5)(v) FOR IMMEDIATE RELEASE June 13, 2007 LIBERTY MEDIA ANNOUNCES PRELIMINARY RESULTS OF SELF-TENDER OFFER Liberty Media Corporation (Nasdaq: LINTA) (“Liberty”) announced today the expiration of its Dutch auction self-tender offer to purchase up to 19,417,476 shares of its Liberty Interactive Series A common stock. The tender offer expired at 5:00 p.m., New York City time, on June 12, 2007. Based on the preliminary tabulation by the depositary, the tender offer was oversubscribed and the purchase price for the tender offer is $25.05 per share. Be...
mechanism = DUTCH...yxviy Exhibit (a)(5)(vi) FOR IMMEDIATE RELEASE June 18, 2007 Liberty Media Corporation Announces Final Results of Tender Offer Englewood, Colorado — June 18, 2007 — Liberty Media Corporation (Nasdaq: LINTA) (“Liberty”) announced today the final results of its modified dutch auction self-tender offer to purchase up to 19,417,476 shares of its Liberty Interactive Series A common stock, which expired on June 12, 2007. Based on the final tabulation by the depositary for the tender offer the purchase price for the tender offer is $24.95 per LINTA share. Based on the final tabulation by the depositary for the tender offe...
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 23.75-25.75...est price that may be specified is $23.75. The prices that may be specified increase in increments of $0.10 up to $25.75 and the highest price that may be specified is $25.75. The price range for the tender offer is $23.75 to $25.75 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 LINTA shares tendered and...
threshold = 100...ugh those Shares were tendered at prices at or below the purchase price. Odd Lots. The term “odd lots” means all LINTA 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 LINTA 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 LINTA shares owned by the Odd Lot Holder in accordance with the procedures described in Sec...
txn_type = TENDER_OFFEREX-99.(A)(1)(I) 2 d46536exv99wxayx1yxiy.htm OFFER TO PURCHASE exv99wxayx1yxiy Exhibit (a)(1)(i) LIBERTY MEDIA CORPORATION OFFER TO PURCHASE FOR CASH UP TO 19,417,476 SHARES OF ITS LIBERTY INTERACTIVE SERIES A COMMON STOCK, AT A PURCHASE PRICE NOT GREATER THAN $25.75 OR LESS THAN $23.75 PER SHARE THE OFFER, PRORATION PERIOD AND WITHDRAWAL RIGHTS EXPIRE AT 5:00 PM, NEW YORK CITY TIME, ON JUNE 12, 200...
txn_type = TENDER_OFFER...ELEASE exv99wxayx5yxvy Exhibit (a)(5)(v) FOR IMMEDIATE RELEASE June 13, 2007 LIBERTY MEDIA ANNOUNCES PRELIMINARY RESULTS OF SELF-TENDER OFFER Liberty Media Corporation (Nasdaq: LINTA) (“Liberty”) announced today the expiration of its Dutch auction self-tender offer to purchase up to 19,417,476 shares of its Liberty Interactive Series A common stock. The tender offer expired at 5:00 p.m., New York City time, on June 12, 2007. Based on the preliminary tabulation by the depositary, the tender offer was oversubscribed and the purchase price for the tender offer is $25.05 per share. Because the tender offer was ove...
txn_type = TENDER_OFFER...ATE RELEASE June 18, 2007 Liberty Media Corporation Announces Final Results of Tender Offer Englewood, Colorado — June 18, 2007 — Liberty Media Corporation (Nasdaq: LINTA) (“Liberty”) announced today the final results of its modified dutch auction self-tender offer to purchase up to 19,417,476 shares of its Liberty Interactive Series A common stock, which expired on June 12, 2007. Based on the final tabulation by the depositary for the tender offer the purchase price for the tender offer is $24.95 per LINTA share. Based on the final tabulation by the depositary for the tender offer, 27,543,660 LINTA shares wer...
expired_on = 2007-06-12...asdaq: LINTA) (“Liberty”) announced today the final results of its modified dutch auction self-tender offer to purchase up to 19,417,476 shares of its Liberty Interactive Series A common stock, which expired on June 12, 2007. Based on the final tabulation by the depositary for the tender offer the purchase price for the tender offer is $24.95 per LINTA share. Based on the final tabulation by the depositary for the tender offer, 27,543,660 LINTA shares were properly tendered and not withdrawn at or b...
proration_pct = 70.3952...e depositary for the tender offer, 27,543,660 LINTA shares were properly tendered and not withdrawn at or below a purchase price of $24.95 per LINTA share. The depositary has advised Liberty that the final proration factor was approximately 70.3952% for the tender offer. Any “odd lot” shares of Liberty Interactive Series A common stock properly tendered and not withdrawn will not be subject to proration. The depositary will promptly issue payment for the LINTA shares validly tendered and accepted for purchase and will retur...

The filings

FiledFormRoleOn EDGAR
2007-05-15SC TO-Ioriginal (governing)View
2007-06-13SC TO-I/AamendmentView
2007-06-18SC TO-I/AamendmentView