Stocks Announcing Buy Back (SOLR, TPCG, CBOE)
GT Solar International, Inc. (NASDAQ:SOLR) soared 8.71% to $9.61. The company announced that it has entered into a definitive agreement to repurchase shares of common stock from GT Solar Holdings, LLC. Under the terms of this agreement, GT Solar has agreed to purchase 26.5 million shares of its common stock at a price of approximately $7.66 per share for a total purchase price of approximately $203 million.
The share repurchase is expected to close on or before November 12, 2010.
Over the past 52-week, the stock had traded within the range of $4.51-$10. The stock made its fresh 52-week high of $10.
TPC Group, Inc. (NASDAQ:TPCG) went down 0.54% to $27.85. The company announced that it has commenced a modified “Dutch auction” tender offer to repurchase for cash shares of its common stock at a purchase price of not less than $24.50 nor greater than $27.50 per share. The Company will purchase shares having an aggregate purchase price of no more than $130 million.
Over the past 52-week, the stock had traded within the range of $5.25-$29.14. At current market price, the market capitalization of the company stood at $508.42 million.
CBOE Holdings, Inc (NASDAQ:CBOE) dropped 1.72% to $24.23. The company announced that it is increasing the price in each of its two concurrent tender offers for shares of its class A-1 and class A-2 common stock to $25.00 per share from $22.50 per share. Due to the increase in the price, the number of shares the Company is offering to purchase in each tender offer has been decreased to 5,983,713 shares.
The 52-week range of the stock is $19.60-$34.18.