Seaboard buying $54 million in shares
June 17, 2014
by World Grain Staff
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SHAWNEE MISSION, KANSAS, U.S. — Seaboard Corp. announced on June 16 that it is buying 18,496 share of its common stock at a price of $2,950 per share, for an aggregate cost of approximately $54,563,200, excluding fees and expenses relating to the tender offer.
The shares expected to be acquired represent approximately 1.56% of the total number of shares of Seaboard Corp.'s common stock issued and outstanding as of June 13.
The number of shares expected to be purchased in the tender offer is preliminary and subject to change. The final number of shares to be purchased will be announced following the expiration of the guaranteed delivery period and the completion of the confirmation process. Payment for the shares accepted for purchase pursuant to the tender offer, and the return of all other shares tendered and not purchased, will occur promptly thereafter.
Seaboard may purchase additional shares of its common stock in the future in the open market, subject to market conditions. Seaboard may also purchase shares of its common stock in private transactions, tender offers or otherwise.
Under applicable securities laws, however, Seaboard may not purchase any such shares of its common stock until after June 27. Any future purchases of shares by Seaboard will depend on many factors, including the market price of the shares, the final results of the tender offer, Seaboard Corporation's business and financial position and general economic and market conditions.