Coca-Cola Begins Auction Tender Offer To Purchase Up To $2 Bln Of Shares

(RTTNews) - Coca-Cola Consolidated, Inc. (COKE) announced on Monday that it has commenced a modified Dutch auction tender offer to purchase its shares for up to $2 billion. The tender offer will expire on June 18.

The stockholders may tender all or a portion of their shares at a price specified by the tendering stockholder of not less than $850 and not above $925 per share.

If the purchase price is not specified, their shares will be purchased at the price determined by the tender offer.

The company intends to fund the tender offer using a combination of cash on hand, debt, and/or proceeds of an offering of senior unsecured notes.