IN BRIEF: DCC outlines GBP600 million tender to return Healthcare cash
DCC PLC - Dublin-based provider of sales, marketing and distribution services to the energy sector - Proposes GBP600 million return to shareholders, following the sale of its Healthcare arm. The return will come in the form of a tender offer for shares. DCC will buy back just under 12.0 million shares, some 12% of its total. The price will be set as part of the tender offer within a range of GBP50.20 to GBP53.20 per share. "DCC has concluded that a tender offer represents the most effective means of returning a significant amount of capital to shareholders in a short space of time and in a manner that provides shareholders with a suitable degree of optionality as to the number and value of shares that they may elect to offer for purchase," it says. Read More