Market Overview

Columbia Property Trust Commences Tender Offer to Purchase up to $300M Shares


Columbia Property Trust (NYSE: CXP) today announced that it has commenced a modified “Dutch Auction” tender offer to purchase for cash up to $300 million in value of its shares of common stock. In accordance with the terms of the Offer to Purchase and Letter of Transmittal, the Company will select the lowest price, not greater than $25.00 nor less than $22.00 per share, net to seller in cash, less any applicable withholding taxes and without interest, that will enable the Company to purchase the maximum number of shares of common stock having an aggregate purchase price not exceeding $300 million. The Company expects to fund the tender offer with cash on hand and/or borrowings available under its existing unsecured revolving credit facility.

The tender offer will expire at 11:59 p.m., New York City Time, on November 8, 2013, unless the tender offer is extended or withdrawn. Stockholders may tender all or a portion of their shares of common stock – and may also choose not to tender any of their shares of common stock – by following the procedures, including choosing the price or prices at which they wish to tender their shares of common stock, described in the Offer to Purchase, the Letter of Transmittal and other documents related to the tender offer.

Posted-In: News Buybacks


Related Articles (CXP)

View Comments and Join the Discussion!
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at