Credit Acceptance Corp (CACC) Odd-Lot Tender Offer

Company: Credit Acceptance Corp.
Ticker: CACC
Market Cap: $2.8bn
Size of Action: ~$125mm
Type of Transaction: tender offer with Odd-Lot provision
Current Price: $124.85
Exchange Price: $125.54
Potential Gain (%): 0.6%
Expiration: 5pm on October 20, 2014
Tender Limit (Shares): 99
Max Investment ($): ~$12,360
Max Gain ($): ~$70
Sec Filing: Link
Summary: Credit Acceptance Corporation is offering to purchase up to 995k shares of its common stock at a price of $125.54 per share.
Odd Lots: "We will purchase shares: first, from all holders of “odd lots” of less than 100 shares who properly tender all of their shares and do not properly withdraw them before the expiration date..."
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