Electronics For Imaging Inc. (EFII) said it has commenced a modified "Dutch Auction" tender offer to purchase up to 4,500,000 shares of its common stock at a price not less than $11.25 per share or more than $12.75 per share. The number of shares proposed to be purchased in the tender offer represents about 9% of EFI's currently outstanding shares, the company noted.
The last reported sales price per share of EFI's common stock on the NASDAQ Global Select Market on November 19, 2009 was $11.59 per share.
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