Gartner Group, Inc. Announces Final Results of `Dutch Auction' Tender Offer.STAMFORD, Conn.--(BUSINESS WIRE)--Sept. 8, 1999-- Gartner Group (company) Gartner Group - One of the biggest IT industry research firms. Address: Connecticut, USA. , Inc. (NYSE NYSE See: New York Stock Exchange : IT), the world's leading authority on information technology (IT), today announced the final results of its Dutch Auction Dutch Auction An auction where the price on an item is lowered until it gets its first bid, and then the item is sold at that price. Notes: The U.S. Treasury (and other countries) uses a Dutch auction when it sells securities. tender offer which expired ex·pire v. ex·pired, ex·pir·ing, ex·pires v.intr. 1. To come to an end; terminate: My membership in the club has expired. 2. on August 31, 1999. The company announced that it has purchased a total of 15,759,279 shares, comprised of 9,636,247 shares of Class A Common Stock at a purchase price of $21.75 per share and 6,123,032 shares of Class B Common Stock at a purchase price of $21.875 per share. The purchase price for the Class A Common Stock remained identical to the purchase price preliminarily announced on September 1, 1999, while the purchase price for the Class B Common Stock is slightly higher than the price of $21.50 per share preliminarily announced on such date, due to a final determination of proper tenders of shares. The final proration Proration A situation during a corporate action in which the available cash or shares are not sufficient to satisfy the offers tendered by shareholders. Therefore, a proportion of both cash and shares is granted for each offer tendered. factor for the Class A Common Stock is 82.85 percent, while the company is purchasing 100 percent of the Class B Common Stock tendered at or below the purchase price of $21.875 per share. All holders of fewer than 100 shares of Class A Common Stock who validly tendered at or below the settlement prices will not be subject to proration. The depositary DEPOSITARY, contracts. He with whom a deposit is confided or made. 2. It is, the essence of the contract of deposits that it should be gratuitous on the part 'of the depositary. 9 M. R. 470. for the offer will promptly issue payment for the shares accepted under the offer and return all shares tendered in excess of this price and shares not accepted because of proration. The shares purchased represent about 15 percent of the approximately 104.7 million shares outstanding immediately prior to the offer. About GartnerGroup As the world's leading authority on IT, GartnerGroup provides clients with a wide range of products and services in the areas of IT advisory services advisory services advisory services provided to the public, in their capacity as owners and managers of animals, are an important part of veterinary science. They may be provided by government bureaux, by commercial companies who deal in pharmaceuticals or animals or animal , measurement, research, decision support, analysis and consulting. Founded in 1979, with headquarters in Stamford, Conn., GartnerGroup is at the center of a global community serving Fortune 1000 companies from 80 locations worldwide. GartnerGroup's unique capabilities and resources help bring clarity to the direction of the world's hottest and most volatile industry. Additional information about the company is available on the World Wide Web at www.gartner.com. |
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