SOUTHFIELD, Mich., March 11, 2011 (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., Eastern Standard time, on March 10, 2011. We commenced the tender offer on February 9, 2011 to purchase up to 1,904,761 shares of our outstanding common stock at a price of $65.625 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N.A., the depositary for the tender offer, 16,186,614 shares of common stock were properly tendered and not properly withdrawn. Because more than the maximum 1,904,761 shares were tendered, we purchased 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 approximately 11.8%.
Credit Acceptance Corporation Announces Final Results Of Its Tender Offer
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