Trinseo (TSE) – Odd Lot Tender Offer – no upside currently

Current Price – $36.29

Offer Price – $35.63

Upside –no upside currently

Expiration date –  25 April 2016

No proration for odd lot holders

SEC Filling

 

Summary:

Trinseo S.A. is: offering to purchase up to 1,165,000 of its ordinary shares in a tender offer; and offering to purchase these shares at a price of $35.63 per share in cash, without interest.

 

No proration for odd lot holders

The term "odd lots" means all shares tendered by a shareholder who owns beneficially or of record a total of fewer than 100 shares. Odd lots will be accepted for payment before any proration of the purchase of other tendered shares. This preference is not available to partial tenders or to beneficial or record holders of an aggregate of 100 or more shares, even if these holders have separate accounts or certificates representing fewer than 100 shares.

 

Source and amount of funds

Assuming that the maximum number of shares is tendered in the offer, the aggregate purchase price for the shares purchased in the offer will be approximately $41.5 million. We anticipate funding this amount from cash on hand.