PP&L Resources, Inc. (NYSE: PPL) announced that its offer to purchase any and all shares of the 4-1/2% Preferred Stock and Series Preferred Stock of Pennsylvania Power & Light Company expired at midnight on Friday, April 4, 1997, which was the expiration date originally announced. The settlement date is expected to be Thursday, April 10, 1997.
The following table outlines the preliminary results of the offer to purchase and the purchase price to be received by tendering shareowners on the anticipated settlement date of April 10:
|
|
CUSIP No |
Approximate
Number of
Shares
Tendered |
Price Per
Share |
|
|
4-1/2% Preferred Stock |
709051-40-3 |
271,027 |
$ 80.00 |
|
|
3.35% Series Preferred Stock |
709051-20-5 |
20,567 |
$ 52.02 |
|
|
4.40% Series Preferred Stock |
709051-30-4 |
110,558 |
$ 70.51 |
|
|
4.60% Series Preferred Stock |
709051-50-2 |
32,736 |
$ 73.72 |
|
|
5.95% Series Preferred Stock |
709051-66-8 |
290,000 |
$103.93 |
|
|
6.05% Series Preferred Stock |
709051-65-0 |
250,000 |
$104.37 |
|
|
6.125% Series Preferred Stock |
709051-68-4 |
834,500 |
$103.68 |
|
|
6.15% Series Preferred Stock |
709051-64-3 |
152,500 |
$104.72 |
|
|
6.33% Series Preferred Stock |
709051-69-2 |
954,000 |
$104.63 |
|
|
6.75% Series Preferred Stock |
709051-67-6 |
759,230 |
$109.17 |
|
|
The total shares tendered represents approximately 79% of the total outstanding shares of 4-1/2% Preferred Stock and Series Preferred Stock included in the offer to purchase. The actual number of shares tendered for purchase will depend on the final report of the depositary and subsequent confirmation of proper delivery.