Trinseo announced that it has commenced a tender offer to repurchase up to 1,165,000 of its ordinary shares at a price of US$35.63 per share. The tender offer will expire at 5:00 p.m., New York City Time on April 25, 2016, unless extended.
Trinseo will fund the tender offer with existing cash on the Company’s balance sheet. Trinseo is conducting this tender offer in order to satisfy certain requirements of Luxembourg law following the repurchase by the Company of 1,600,000 ordinary shares as part of the secondary offering of the Company’s ordinary shares that was completed on March 24, 2016.
Shareholders will receive the purchase price in cash, subject to applicable withholding and without interest. If the total number of shares tendered exceeds 1,165,000 shares, Trinseo will purchase shares on a pro rata basis (subject to the “odd lot” priority) from all shareholders who tendered shares.
Tenders of shares must be made prior to the expiration of the tender offer and may be withdrawn at any time prior to the expiration of the tender offer. The Company has retained Okapi Partners LLC to act as information agent and American Stock Transfer and Trust Company, LLC to act as depositary in connection with the tender offer. Shareholders with questions, or who would like to receive additional copies of the tender offer documents, may call the information agent toll-free at (855) 208-8903.