Ascential PLC (LSE:ASCL) provided investors with more details on the £850 million it has promised to shell out after selling two businesses last year.
Last month it said it planned to return the cash to shareholders through a tender offer to acquire up to £300 million of its shares, a special dividend of at least £450 million and a £100 million share buyback.
Today's announcement confirms the price at which it will make the tender offer, which is between 315p and 331p per share, a premium of 4.7-10% to the closing price the day before the March announcement and 3.6-8.9% to yesterday's closing price.
And if the tender offer is undersubscribed or does not take place, the board said it intends to increase the size of the special dividend to make up the difference.
A share consolidation will take place on 20 May following the tender offer closing and the expected declaration of the special dividend, intended to "maintain the comparability of Ascential's share price and per-share metrics before and after special dividend to reflect the value that will be returned to shareholders".