Sterling-based NeuStar Inc. plans to buy 7.25 million shares of its Class A stock as a result of a $250 million “Dutch auction” tender offer.
The auction was oversubscribed with 8.16 million shares tendered by shareholders by a Dec. 2. deadline.
The company will pay $34.50 per share for 88.6 percent of the share.
NeuStar’s stock price has ranged from $22.24 to $34.73 in the past year and closed Friday at $34.33.
The 7.2 million shares make up about 9.9 percent of the company’s outstanding stock.
NeuStar offers clearinghouse services to a number of communications companies and Internet service providers.
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