HEALTHSOUTH Corp. (HLS) announced the preliminary results of its "modified Dutch auction" tender offer Wednesday morning. Based on the preliminary count 9,119,450 shares were validly tendered at or below the final purchase price of $25.50 per share and not properly withdrawn.
HEALTHSOUTH gapped up Wednesday and climbed until mid-morning, before settling into a range. Shares finished up by 1.31 at $25.84 on above average volume. The stock rose above a one-month range and set a new high for the year.
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