2023-05-26 08:58:58 ET
- White Mountains Insurance Group ( NYSE: WTM ) said on Friday that it has commenced a cash tender offer for up to 5M class A shares of MediaAlpha ( NYSE: MAX ).
- The tender offer will see White Mountains purchase the shares at $10.00 per share.
- WTM said the purchases are made only because the shares represent an attractive investment, and are not intended for acquiring or influencing control of MAX.
- The offer will expire at one minute following 11:59 PM New York City time on Monday, June 26.
- The offer is conditioned on a minimum number of 2.5M shares being properly tendered.
- MAX shares were trading ~30% higher pre-market
- Source: Press Release
For further details see:
White Mountains Insurance commences tender offer for MediaAlpha shares