HOUSTON--(BUSINESS WIRE)--Aug. 29, 2013--
Halliburton (NYSE: HAL) today announced the final results of its
modified Dutch auction tender offer, which expired at 11:59 p.m., New
York City time, on Thursday, August 22, 2013.
Halliburton has accepted for purchase 68,041,236 shares of its common
stock at a purchase price of $48.50 per share, for an aggregate cost of
$3.3 billion, excluding fees and expenses relating to the tender offer.
These shares represent approximately 7.4% of the total number of shares
of Halliburton common stock issued and outstanding as of August 26, 2013.
The tender offer was oversubscribed and, pursuant to the terms of the
tender offer, shares were accepted on a pro rata basis, except for
tenders of odd lots, which were accepted in full, and except for certain
conditional tenders automatically regarded as withdrawn pursuant to the
terms of the tender offer. Halliburton has been informed by the
depositary that the proration factor for the tender offer, after giving
effect to the priority for odd lots, is approximately 69.466%. The
depositary will promptly pay for the shares accepted for purchase and
will return all other shares tendered.
Dave Lesar, chairman, president and chief executive officer, commented,
“Our confidence in our long-term financial outlook has enabled us to
increase our shareholder distributions while maintaining robust
liquidity to fund future growth. This tender offer has been
well-received by the investment community and, combined with share
repurchases earlier this year and our dividend target of at least 15-20%
of net income, reflects our commitment to deliver value to shareholders.”
Credit Suisse Securities (USA) LLC and J.P. Morgan Securities LLC served
as lead dealer managers for the tender offer, and Merrill Lynch, Pierce,
Fenner & Smith Incorporated served as a co-dealer manager. Stockholders
who have questions or would like additional information about the tender
offer may contact the information agent for the tender offer, Georgeson
Inc., at 888-293-6812 (toll-free).
About Halliburton
Founded in 1919, Halliburton is one of the world’s largest providers of
products and services to the energy industry. With more than 75,000
employees, representing 140 nationalities in approximately 80 countries,
the company serves the upstream oil and gas industry throughout the
lifecycle of the reservoir – from locating hydrocarbons and managing
geological data, to drilling and formation evaluation, well construction
and completion, and optimizing production through the life of the field.
NOTE: The statements in this press release that are not
historical statements, including statements regarding long-term
financial outlook, future liquidity and future dividend targets, are
forward-looking statements within the meaning of the federal securities
laws. These statements are subject to numerous risks and uncertainties,
many of which are beyond the company’s control, which could cause actual
results to differ materially from the results expressed or implied by
the statements. Halliburton’s Form 10-K for the year ended December 31,
2012, Form 10-Q for the quarter ended June 30, 2013, recent Current
Reports on Form 8-K, and other Securities and Exchange Commission
filings discuss some of the important risk factors identified that may
affect Halliburton’s business, results of operations, and financial
condition. Halliburton undertakes no obligation to revise or update
publicly any forward-looking statements for any reason.
Source: Halliburton
Halliburton
Kelly Youngblood, 281-871-2688
Investor Relations
investors@halliburton.com
Beverly
Blohm Stafford, 281-871-2601
Corporate Affairs
PR@halliburton.com
