MSC Industrial (MSM) Tops Q3 EPS by 5c; Guides Q4 EPS

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MSC Industrial (MSM) to Launch Modified 'Dutch Auction' Tender Offer, Stock Buyback

July 6, 2016 6:41 AM EDT

MSC Industrial Supply Co. (NYSE: MSM) announced its plan to launch a "modified Dutch auction" tender offer for up to $300 million of its Class A common stock at a price per share not less than $66.00 and not greater than $72.50. The tender offer is expected to commence on or about July 7, 2016 and will remain open for at least 20 business days.

A "modified Dutch auction" tender offer allows shareholders to indicate how many shares and at what price within the Company's specified range they wish to tender. Based on the number of shares tendered and the... More