White Mountains Commences Self-tender Offer To Purchase Up To $500 Mln Of Common Shares

(RTTNews) - White Mountains Insurance Group, Ltd. (WTM) has commenced a modified Dutch auction self-tender offer to purchase up to $500 million in value of its common shares, at a purchase price not greater than $1,400 nor less than $1,250 per share. The tender offer will expire on September 20, 2022.

White Mountains said, if the tender offer is fully subscribed, at the maximum purchase price of $1,400 per share, it could purchase 357,142 shares, which would represent approximately 12.3% of shares outstanding. At the minimum purchase price of $1,250 per share, the company could purchase 400,000 shares, which would represent approximately 13.8% of the shares outstanding.