Scholastic announced preliminary results of their “modified Dutch auction” launched in late October to boost the company’s stock price. Authorized to buy up to $75 million in stock, approximately 534,000 shares were tendered and will be purchased at $40 a share — costing the company about $21.35 million. As a result, the stock now trades just above $41 a share on the open market. Also in finance, following the termination of Penguin Random House’s deal to acquire Simon & Schuster, Bertelsmann is planning to float €750 million in senior unsecured notes, which will be used in part to buy back […]
