Chambers Street to purchase 12.38M shares for $10.10 under tender offer

theflyonthewall.com

Chambers Street Properties announced the preliminary results of its modified “Dutch Auction” tender offer for the purchase of up to $125M in value of its common shares from its shareholders, which expired at 5:00 p.m., New York City time, on June 19. In accordance with the terms and conditions of the tender offer, and based on the preliminary count by the paying agent and depositary, Chambers Street will accept for purchase about 12.38M common shares properly tendered and not properly withdrawn prior to the expiration of the tender offer at a purchase price of $10.10 per share, for an aggregate cost of approximately $125M. Based on this preliminary count, the shares to be accepted for purchase in the tender offer represent approximately 4.97% of Chamber Street’s currently issued and outstanding common shares.

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