NOVI, Mich. – Cooper-Standard Holdings, parent company of Cooper Standard Automotive, has announced the preliminary results of its cash tender offer to purchase up to 4,651,162 shares of its common stock, which expired at midnight EST on May 2.
 
Based on the preliminary count by Computershare, the company’s depositary for the tender offer, a total of 6,008,921 shares of the company’s common stock were properly tendered and not properly withdrawn in the tender offer, including 122,175 shares that were tendered through notices of guaranteed delivery. Based on these preliminary results, the tender offer is oversubscribed and the company expects to accept for payment, on a pro rata basis, 4,651,162 shares of its common stock at a purchase price of $43 per share, for an aggregate cost of approximately $200 million.
 
The company has been informed by the depositary for the tender offer that the preliminary proration factor for the tender offer is approximately 77.4 percent. This preliminary proration factor is subject to change based on a number of factors including, among others, the actual number of tendered shares, which satisfy the guaranteed delivery procedures.
 
The number of shares to be purchased by the company represents approximately 26.1 percent of the outstanding shares of common stock as of April 30, 2013.