View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
June 9, 1987


By CBR Staff Writer

Tektronix Inc is planning to hold a Dutch auction to spend up to $380m more on its own shares. The shares closed just before the announcement at $34 even, and Tektronix is inviting holders to tender shares at anywhere between $35 and $40; it will buy at least 6m if enough shares are tendered. It has $200m in the bank for the exercise, and will borrow the balance: it says it is making the move because it reckons that buying its own shares is the best use for its cash balances and borrowing power. It has already paid $75m for 2.1m shares out of a founder’s estate, and after that had 37m shares outstanding. The exercise won’t come free, and the costs will lead Tektronix to reporting a charge that will lead to a loss for its fiscal fourth quarter to May 30. At the pre-tax level it expects to report $15m to $25m against $10.5m last year.

Content from our partners
Unlocking growth through hybrid cloud: 5 key takeaways
How businesses can safeguard themselves on the cyber frontline
How hackers’ tactics are evolving in an increasingly complex landscape

Websites in our network
Select and enter your corporate email address Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
  • CIO
  • CTO
  • CISO
  • CSO
  • CFO
  • CDO
  • CEO
  • Architect Founder
  • MD
  • Director
  • Manager
  • Other
Visit our privacy policy for more information about our services, how New Statesman Media Group may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.