SOUTHFIELD, Mich., July 23, 2010 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (Nasdaq:CACC) (referred to as the "Company", "we", "our", or "us") announced the final results of our tender offer, which expired at 5:00 p.m., New York City time, on July 19, 2010. We commenced the tender offer on June 18, 2010 to purchase up to 4,000,000 shares of our outstanding common stock at a price of $50.00 per share, net to the seller in cash, without interest. Based on the final count by Computershare Trust Company, N.A., the depositary for the tender offer, 20,956,355 shares of common stock were properly tendered and not properly withdrawn. Because more than the maximum 4,000,000 shares were tendered, we have accepted for purchase only a prorated portion of the shares tendered by each tendering shareholder, other than odd lot shareholders, as described in our Offer to Purchase. The proration factor used by us in accepting for purchase tendered shares was 18.9%.
Credit Acceptance Corporation Announces Final Results Of Its Tender Offer
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