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Midstates launches equity buyback with cash & revolver funds
Midstates Petroleum Co. Inc. commenced a tender offer on Jan. 14 for up to 5 million of its common shares at $10 a share through Feb. 12. The company said the number of shares to be repurchased equals about 19.7% of the company’s shares that are currently outstanding. The $10 purchase price represents a 20.9% premium to Midstates’ NYSE closing price of $8.27 on Jan. 11, the last trading day before the offer commenced. That closing price was 55%......
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