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Friday, March 29, 2024

Siemens AG To Buy Back Shares And Cancel Treasury Shares

Courtesy of Benzinga.

AOL Inc. (NYSE: AOL) announced today the expiration as scheduled of its modified “Dutch Auction” tender offer for the repurchase of up to $400 million in value of shares of its common stock. AOL also announced today that its Board of Directors has approved a $550 million stock repurchase program. AOL’s modified Dutch auction tender offer expired at 5:00 P.M., New York City time, on August 2, 2012. Based on the preliminary count by Computershare Trust Company, N.A., the depositary for the tender offer, a total of 292,435 shares of AOL’s common stock was properly tendered at or below the final purchase price of $30.00 per share and not properly withdrawn. Prior to the tender offer and since August 2011, AOL has repurchased 14.8 million shares of its common stock at a weighted average price of $14.11 per share for cumulative repurchases of approximately $209 million. In accordance with the terms and conditions of the tender offer, and based on the preliminary count by the depositary, AOL expects to accept for purchase 292,435 shares of its common stock at a purchase price of $30.00 per share, for an aggregate purchase price of approximately $8.8 million, excluding fees and expenses relating to the tender offer. The 292,435 shares expected to be purchased in the tender offer represent approximately 0.31% of AOL’s currently issued and outstanding shares of common stock.

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