Dutch Auction Results Are In: Diamond Management & Technology Consultants, Inc (DTPI) to Buyback of 2.7 Million Shares
Diamond Management & Technology Consultants, Inc. (DTPI) announced that it will buy back 9 percent, or 2.7 million shares, of its own stock for $6 per share, or a total of $15.9 million. The buyback is a result of the management and technology consulting firm’s Dutch auction that was announced last month and expired on March 11. Diamond’s Dutch auction began on February 12, 2008 and lasted for 20 business days. The company plans to finance the repurchase from its existing cash and cash equivalents balance, which was approximately $65 million as of December 31, 2007. Morgan Stanley served as…