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| PHH Corporation Announces Final Results of Tender Offer |
Based on the final count by Because the aggregate number of shares of PHH’s common stock that were validly tendered and not validly withdrawn was less than the total number of shares that PHH could have acquired if its right to purchase up to an additional 2% of its outstanding shares could have been fully exercised, all of the shares of PHH’s common stock that were validly tendered and not validly withdrawn were acquired. The depositary will promptly pay for the shares accepted for purchase and will promptly return all shares tendered and not accepted for purchase. After giving effect to the purchase of the shares, the Company will have outstanding approximately 32.5 million shares of its common stock.
The Company funded the share purchases in the tender offer with
The tender offer was made pursuant to an Offer to Purchase and Letter of
Transmittal, each filed with the
About PHH
Headquartered in Forward-Looking Statements This press release contains “forward-looking statements,” including statements related to the tender offer for shares of the Company’s common stock. You can identify these forward-looking statements by the use of forward-looking words such as “outlook,” “believes,” “expects,” “potential,” “continues,” “may,” “will,” “should,” “seeks,” “approximately,” “predicts,” “intends,” “plans,” “estimates,” “anticipates” or the negative version of those words or other comparable words. The inclusion of this forward-looking information should not be regarded as a representation by PHH or any other person that its future plans, estimates or expectations will be achieved. Such forward-looking statements are subject to risks and uncertainties and assumptions relating to the Company’s operations, financial results, financial condition, business prospects, growth strategy, liquidity and planned transactions that could cause our actual results, including with respect to the tender offer, to differ materially from those expressed or implied by these forward-looking statements. Factors which could have a material adverse effect on the Company’s operations, future prospects and value of its shares include, but are not limited to: expectations about changes to its operating expenses; anticipated capital expenditures; expectations about changes in its earnings in equity interests and net income; expectations about the amount of unrecognized tax benefits, the outcome of tax assessment appeals, the adequacy of its existing tax reserves, future tax expenditures, and tax rates; expectations about the sufficiency of its available sources of liquidity to meet normal operating requirements and capital expenditures; expectations regarding the future outcome of legal proceedings in which the Company is involved; potential adverse effects on its relationships with existing and potential advertisers, suppliers, customers, vendors, distributors, landlords, licensors, licensees, joint venture partners, and other business partners; the number of shares it is able to purchase pursuant to the tender offer or otherwise; and the ability of PHH to achieve the benefits contemplated by the tender offer.
These factors should not be construed as exhaustive and should be read
in conjunction with the other cautionary statements that are included in
this press release. The Company does not undertake any obligation to
publicly update or review any forward-looking statement, whether as a
result of new information, future developments or otherwise. The
foregoing should be read in conjunction with the other cautionary
statements that are included herein and elsewhere, including the risk
factors described under the captions “Risk Factors” and “Management’s
Discussion and Analysis of Financial Condition and Results of
Operations” in its Form 10-Q for the quarter ended
View source version on businesswire.com: http://www.businesswire.com/news/home/20170915005386/en/ Source:
PHH Corporation
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