Reuters Holdings Plc reports that its UKP350m share buyback offer was heavily oversubscribed: it received tenders of 164.34m shares, about 38.65% of its issued ordinary shares for the offer which closed on Wednesday; the tender offer, at UKP14 per share, was for up to 25m shares or 5.84% of the company’s outstanding ordinary shares, including those represented by American Depositary Shares; holders that tendered shares will have them purchased in full up to a maximum of 5.84% of their holding as at August 25, and as not all shareholders will have taken up the offer, those who have tendered shares in excess of the 5.84% will have further shares accepted pro rata to the total number of shares tendered in excess of entitled amounts.
