Henley Group to Mail Checks for 3.1 Million Shares Tendered

Henley Group Inc. said about 3,121,000 Henley shares were tendered at $28 each by stockholders as of the Wednesday expiration date of Henley’s self-tender offer. Henley will mail checks to tendering shareholders next week, the company said Thursday.

Henley, which will have approximately 100.1 million shares outstanding after the stock repurchases, had offered to buy back as many as 25 million of its shares. Henley stock closed up $1 at $29 per share in over-the-counter trading Thursday.

Henley initiated the self-tender in connection with the July 20 settlement of a shareholder lawsuit, which claimed that a Henley stock purchase program instituted for top management last year was a “waste of corporate assets.”