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CBOE Holdings, Inc. (Nasdaq: CBOE) today announced that it is increasing the price in each of its two concurrent tender offers for shares of its class A-1 and class A-2 common stock to $25.00 per share from $22.50 per share. Due to the increase in the price, the number of shares the company is offering to purchase in each tender offer has been decreased to 5,983,713 shares. This will permit the company to fund the tender offers entirely from the net proceeds of its June 2010 initial public offering of shares of its unrestricted stock.
As a result of the amendment of the terms of the tender offers, the tender offers and withdrawal rights have been extended and are now scheduled to expire at 5:00 p.m., New York City Time, Tuesday, November 23, 2010.
Prior to the IPO, in its filings with the Securities and Exchange Commission, CBOE Holdings announced its intention to use net proceeds of the IPO to conduct two concurrent tender offers for its class A-1 and class A-2 common stock. The class A-1 and class A-2 common stock is held by former seat owners of Chicago Board Options Exchange, Incorporated, and members of the settlement class in CME Group Inc. et al v. Chicago Board Options Exchange, Incorporated, et al. The class A-1 and class A-2 common stock is currently subject to transfer restrictions and cannot be sold in any public market.
As of 5:00 p.m., New York City Time, on November 5, 2010, 1,145,478 shares of class A-1 common stock and 1,151,254 shares of class A-2 common stock have been tendered in the tender offers.
The tender offers are being made only pursuant to offers to purchase and related letters of transmittal, which were previously filed with the Securities and Exchange Commission and forwarded to record holders of the class A-1 and class A-2 common stock. A supplement to each of the offers to purchase describing the amendments will promptly be filed with the Securities and Exchange Commission and forwarded to record holders of the class A-1 and class A-2 common stock.
Holders of class A-1 and class A-2 common stock can direct questions with respect to the tender offers to BNY Mellon Shareowner Services at (866) 353-0872.
