Barry’s has announced preliminary results for a revised “Dutch Auction” bid. In this bid, 4,858,465 shares of common stock were less than $ 22 per share (£ 18.23 / € 21.48) with a total purchase price of $ 106.8 million.
The shares make up 9.2% of Barry’s total outstanding common stock, and bidding closes at midnight on July 22, starting June 24. Initially, we planned to buy almost one-fifth (18.8%) of common stock.
The interim count was made by the American Stock Transfer & Trust Company, the Tender Offer Depositary. Of all the shares, 2,143,640 shares were submitted with a notice of delivery guarantee.
