Halliburton Co Announces Commencement Of $3.3 Billion Modified Dutch Auction Tender Offer For Common Stock

Thursday, 25 Jul 2013 07:00pm EDT 

Halliburton Co announced that it is commencing a modified Dutch auction tender offer to repurchase shares of common stock for an aggregate purchase price of up to $3.3 billion. Pursuant to the tender offer, company stockholders may tender all or a portion of their shares at a price specified by the tendering stockholder of not less than $42.50 and not more than $48.50 per share or without specifying a purchase price, in which case their shares will be purchased at the purchase price determined in accordance with the tender offer. When the tender offer expires, Halliburton will determine the lowest price within the range of prices specified above (the purchase price) enabling Halliburton to purchase up to $3.3 billion in the aggregate of common stock. Stockholders will receive the purchase price in cash, for shares tendered at prices equal to or less than the purchase price, including the provisions relating to proration, odd lot priority and conditional tenders in the event that the aggregate cost to purchase all of the shares validly tendered and not validly withdrawn at or below the purchase price exceeds $3.3 billion. These provisions are described in the Offer to Purchase and in the Letter of Transmittal relating to the tender offer that will be distributed to stockholders. All shares purchased by Halliburton will be purchased at the same price. All shares tendered at prices higher than the purchase price will be promptly returned to stockholders. 

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