CBOE Holdings Inc. said its two offers for nearly 12 million shares of class A-1 and class A-2 common stock exceeded the maximum tender amount.
About 12.4 million of class A-1 common stock and 13.6 million of class A-2 common stock were validly tendered and not withdrawn, according to the final count by BNY Mellon Shareowner Services, which is handling the tender offer.
The stock is held by former CBOE seat holders who received stock in return for their memberships when the company went public and members of a settlement class in CME Group Inc.
The $300 million program, which expired at 5 p.m. Tuesday, was funded by proceeds from CBOE’s June initial public offering.
This month, CBOE Holdings Inc., the biggest U.S. options market operator, boosted its bid for former members’ stock to $25 each from the $22.50 it originally offered Oct. 13.
Following the tender offers, CBOE Holdings has 38,340,090 shares of class A-1 common stock and 38,340,090 shares of class A-2 common stock outstanding.
CBOE stock posted the second-biggest loss in the Russell 1000 Index, sliding 3.3 percent to $23.87, according to Bloomberg.
Reuters contributed to this story.
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CBOE Holdings
CBOE Holdings Inc. claims it is the largest option exchange in the United States. The company, in addition to its core options trading business, provides marketplaces for trading futures contracts...
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