Scholastic Launches $200 Mln Stock Buyback Tender Offer

Scholastic Corporation has launched a modified Dutch Auction tender offer to buy back up to $200 million of its common stock at a price between $36 and $40 per share. The offer represents approximately 25% of the company's outstanding common stock and expires on April 20. The tender offer was announced after the company's stock closed at $37.25 per share on Nasdaq on March 20.