Fresh Del Monte Produce Inc. (FDP) Odd-Lot Tender Offer

  • Company: Fresh Del Monte Produce Inc.
  • Ticker: FDP
  • Market Cap: $1.9B
  • Size of Action: <$175mm
  • Type of Transaction:  Tender Offer with "Odd-Lot" provision
  • Current Price:  $33.60
  • Exchange Price: $30.50-$34.50
  • Potential Gain (%): -9.2%-2.7%
  • Expiration: 11:59pm December 2nd, 2014
  • Tender Limit (Shares): 99
  • Max Investment ($): ~$3,200
  • Max Gain ($): ~$90
  • Sec Filing: Link
  • Summary: Fresh Del Monte Produce Inc (FDP) is purchasing its shares up to an aggregate amount of $175mm via a "“modified Dutch auction" whereas the purchase price may be between $30.50 to $34.50.
  • Odd Lots: ...First, all shares owned in “odd lots” (less than 100 shares) that have been validly tendered at or below the Purchase Price (and not validly withdrawn prior to the Expiration Time) (tenders of less than all of the shares owned, beneficially or of record, by such “odd lot” shareholders will not qualify for this preference); ...
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