NEW YORK (AP) — THE PLAN: AOL Inc. has started a tender offer to buy back up to $400 million of its common stock.
THE METHOD: It will be a "Dutch auction." That allows shareholders to say how many shares they want to tender and at what price within a specified range. Based on that information, the company then determines the lowest price per share within the range that lets it buy the amount of shares that it wants.
THE DATES: The tender offer starts Thursday and expires on Aug. 2 unless extended or ended earlier.