Seeking Alpha

Halliburton says $3.3B tender offer was oversubscribed

  • Halliburton (HAL -1.2%) says its cash tender offer to repurchase $3.3B of its stock through a Dutch auction was oversubscribed.
  • HAL expects to acquire 68M shares at $48.50/share, the top end of the range it set when it announced the tender offer in July and a 1.4% premium over Thursday's close.
  • The shares represent ~7.4% of HAL's shares outstanding, and ~100.2M of its shares were validly tendered and not withdrawn.
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