Amazon.com owns 89.4% of Audible's shares following subsequent tender offer

By Lisa Kerner

Charlotte, N.C., March 17 - A total of some 21.5 million shares, or about 86.9%, of Audible, Inc.'s common stock had been tendered as of Friday, the closing date of Amazon.com, Inc.'s subsequent tender offer for the company's shares.

All tendered shares have been accepted in accordance with the terms of the tender offer, according to an Amazon.com news release.

Amazon.com now owns, including shares it owned prior to the offer, 89.4% of Audible's outstanding shares. The company will exercise its right to purchase a number of newly issued shares of Audible in order to own more than 90% of Audible's shares.

AZBC Holdings, Inc., an Amazon.com subsidiary, began its $11.50-per-share tender offer for Audible on Feb. 11. The subsequent offer began on March 11.

The merger of the companies is expected to be completed "as soon as practicable" with Audible becoming a wholly owned subsidiary of Amazon.com, a Seattle-based internet retailer.

On Jan. 31, Amazon.com announced it would acquire Audible for approximately $300 million.

Audible specializes in digital audio editions of books, newspapers, magazines, television programs, radio programs and original programming. The Newark-based company offers over 80,000 programs through its web sites worldwide.

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