CBS (CBS) Announces Pricing for National Amusements 26M Share Offering at $12/share
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CBS Corporation (NYSE: CBS) (NYSE: CBS.A) today announced the pricing of an underwritten public offering of 26,040,909 shares of the Company's Class B Common Stock sold by NAIRI, Inc. ("NAIRI"), a wholly-owned subsidiary of National Amusements, Inc. and a controlling stockholder of Company, at a public offering price of $12.00 per share.
CBS will receive no proceeds in the offering.
The offering is expected to close on or about October 20, 2009, subject to customary closing conditions. NAIRI has also granted the underwriters a 30-day option to purchase up to an aggregate of 2,604,091 additional shares of Class B Common Stock to cover over-allotments, if any.
Citi is acting as the Sole Bookrunner and Joint Lead Manager for the offering. J.P. Morgan is acting as Joint Lead Manager for the offering.
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