H&R Block (HRB) Odd-Lot Auction Tender

  • Company: H&R Block
  • Ticker: HRB
  • Market Cap: $10bn
  • Size of Action: $1.5bn
  • Type of Transaction:  Auction Tender Offer with Odd-Lot Provision
  • Current Price: $35.40
  • Exchange Price: $32.25-$37.00
  • Potential Gain (%): -8.9% - 4.5%
  • Expiration: 5pm October 2, 2015
  • Tender Limit (Shares): 99
  • Max Investment ($): $3,500
  • Max Gain ($): ~$160
  • Sec Filing: Link
  • Summary: H&R Block (HRB) is offering to buy up to $1.5mm between $32.25-$37.00.
  • Odd Lots: "...First, we will purchase all Odd Lots (as defined in Section 1) of less than 100 Shares at the Purchase Price from shareholders who validly tender all of their Shares at or below the Purchase Price (including Shares tendered by Purchase Price Tender) and who do not validly withdraw them before the Expiration Time (tenders of less than all of the Shares owned, beneficially or of record, by such Odd Lot Holder (as defined in Section 1) will not qualify for this preference)...."
  • All information contained on or available through this Web Site (“the Content”) is for general information purposes only and does not constitute any investment advice.
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