TSX:IMO - Post Discussion
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Betteryear2 on Oct 30, 2023 8:51pm
substantial issuer bid for up to $1,500,000,000 T.IMO
CALGARY, Alberta--(BUSINESS WIRE)--Imperial Oil Limited (TSE: IMO, NYSE American: IMO) announced today the terms of its substantial issuer bid (the “Offer”) pursuant to which the company will offer to purchase for cancellation up to $1,500,000,000 of its common shares (the “Shares”). Subject to obtaining certain exemptive relief under applicable securities laws in the United States, the Offer will proceed by way of a modified Dutch auction that includes the ability for shareholders to participate via a proportionate tender. The modified Dutch auction procedure will have a tender price range from $78.50 per Share to $94.00 per Share. All amounts are in Canadian dollars.
Imperial announces terms of its substantial issuer bid for up to $1,500,000,000 and receipt of exemptive relief | Business Wire
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