Tender Offers for Coca-Cola Consolidated, Inc.

Form Type: 8-K

Filing Date: 2024-05-06

Corporate Action: Tender-offer

Type: New

Accession Number: 000031754024000030

Comments: This document pertains to a tender offer by Coca-Cola Consolidated for the repurchase of its common stock. The tender offer is a modified Dutch auction with a price range of $850 to $925 per share. Coca-Cola Consolidated plans to acquire shares to ensure that The Coca-Cola Company holds 21.5% after the repurchase. The tender offer is expected to commence on or around May 20, 2024, following a related share repurchase agreement.

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Form Type: SC TO-C

Filing Date: 2024-05-06

Corporate Action: Tender-offer

Type: Update

Accession Number: 000031754024000033

Comments: Coca-Cola Consolidated, Inc. announces its intention to repurchase up to $3.1 billion of its Common Stock. The repurchase will be through a modified "Dutch auction" tender offer for up to $2.0 billion and a purchase agreement. The tender offer price range is expected to be $850 to $925 per share. The tender offer is expected to be launched around May 20, 2024. The share repurchase under the purchase agreement is conditioned on the completion of the tender offer with the price no less than $925 per share. The company is committed to maintaining Coca-Cola’s influence on its Board of Directors through a stock rights amendment. The document serves multiple roles, including a purchase agreement and stock rights amendment, and not just a tender offer notification.

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