Electronics for Imaging's Dutch auction tender offer ends Dec. 18

By Lisa Kerner

Charlotte, N.C., Nov. 20 - Electronics for Imaging, Inc. began its modified Dutch auction tender offer to buy up to 4.5 million shares, or 9%, of its outstanding common stock.

The company said it will purchase the shares at a price not less than $11.25 each or more than $12.75 each.

Electronics for Imaging stock closed at $11.59 (Nasdaq: EFII) on Thursday.

The tender offer will end at midnight ET on Dec. 18, according to a company news release.

The dealer manager for the offer is Morgan Stanley & Co. Inc. (888 721-8777). Mellon Investor Services LLC (866 281-4269) is the depositary and the information agent.

Electronics for Imaging's board of directors announced in October it had approved the tender offer for up to $70 million of the company's common stock.

As previously reported, the approval uses the balance of the company's authorized $100 million share repurchase program.

Electronics for Imaging, a Foster City, Calif.-based digital controller manufacturer, said it will fund the offer using existing cash reserves.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.