Weight Watchers International has announced the preliminary results of its “modified Dutch Auction” tender offer for approximately 8.5% of the company’s outstanding shares, which expired last week.
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The weight management company expects to accept for payment an aggregate of 8,300,000 shares of its common stock at a purchase price of US$54.00 per share, it said.
Payment for the shares is currently anticipated to occur on 26 January 2007, Weight Watchers said.
Additionally, the company expects to purchase 10,206,436 shares from Artal Holdings, its majority shareholder, also at a purchase price of $54.00 per share.
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