Forrester Research announced that it intends to commence later this week a “modified Dutch auction” self-tender offer to repurchase up to $130M of its common stock at a price per share within the range of $32.00 to $36.00. The Nasdaq closing price of Forrester’s common stock on March 28 was $31.65 per share. The tender offer will not be conditioned upon any minimum number of shares being tendered, and it will remain open for at least 20 business days. Forrester will use a portion of its cash, cash equivalents, and marketable investments to fund the repurchase of shares in the tender offer. The tender offer will not be conditioned upon obtaining financing or any minimum number of shares being tendered; however, the tender offer will be subject to a number of other terms and conditions, which will be specified in the Offer to Purchase. The company’s directors and executive officers, including George F. Colony, Forrester’s largest stockholder and its chairman and CEO, have advised the company of their intention not to tender any shares in the tender offer.