Shares of Altice USA Inc. (ATUS) touched a 52-week high of $35.25 today, and are currently trading at $35.21, up $2.94 or 9.11% in the regular session Monday. Trading volume is rising over 2.60 million versus an average volume of 5.98 million shares.
Altice USA said it commenced a modified "Dutch auction" tender offer to repurchase up to $2.5 billion of its Class A common stock at a price not greater than $36.00 per share nor less than $32.25 per share, less any applicable withholding taxes and without interest, upon the terms and subject to the conditions set forth in the Offer to Purchase and Letter of Transmittal that are being distributed to stockholders.
The Offer represents a premium of about 0% - 12% to the NYSE closing price of the shares on November 20, 2020 of $32.27 per share.
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