WTW annouced WILL BE BOUGHT @ MINiMUM $72 AUCTION PRICE
Watch out shorties
Weight Watchers International, Inc. (NYSE:WTW) shares fell 17% to $44.91 after the company yesterday announced its plan to launch a modified Dutch auction tender offer for up to $720,000,000 of its common stock at a price per share not less than $72.00 and not greater than $83.00. This price range represents a 4.3% premium to a 20.3% premium to the year-to-date volume-weighted average price of $69.00 per share for the Company's common stock.
Additionally, the company posted fourth quarter 2012 net income was $58.0 million versus $63.7 million in the prior year period. Earnings per fully diluted share (EPS) for Q4 2012 were $1.03 versus $0.86 in the prior year period.