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Kerr-McGee goes Dutch



By Upstream staff 

Kerr-McGee is expecting to buy back 46.7 million common shares at $85 each in a Dutch Auction.

The Oklahoma-based company said preliminary results showed that investors tendered 152.9 million shares at those terms, including 63.7 million that were tendered through notice of guaranteed delivery, Reuters reported.

Under the terms of the tender offer, Kerr-McGee had offered to purchase shares of its common stock at a price between $85 and $92 a share.


Thursday, 19 May, 2005, 13:58 GMT  | last updated: Friday, 20 May, 2005, 09:33 GMT

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