Jarden commences self-tender offer to purchase up to $500M of common stock

Jarden Corporation announced that it has commenced a "modified Dutch auction" self-tender offer to purchase up to $500 million in value of its common stock, par value $0.01 per share, at a purchase price of not greater than $33.00 or less than $30.00 per share, net to the seller in cash. The tender offer will expire at 12:00 midnight, Eastern Standard Time, on February 23, 2012, unless extended. Jarden announced its intention to make the tender offer on January 24, 2012 prior to the open of the market. On January 23, 2012, the last reported sale price of Jarden's Common Stock was $30.71 per share, with an average closing price of $30.69 over the last three months. At the maximum final purchase price of $33.00 per share, the Company could purchase 15,151,515 shares if the offer is fully subscribed, which would represent approximately 16.6% of the issued and outstanding shares as of January 24, 2012. At the minimum final purchase price of $30.00 per share, the company could purchase 16,666,666 shares if the offer is fully subscribed, which would represent approximately 18.2% of the issued and outstanding shares as of January 24, 2012. The Company has retained Barclays Capital to act as the dealer manager for the tender offer.