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Tree.com expects to purchase 312,339 shares

Charlotte-based Tree.com has announced the preliminary results of its plan to repurchase its own stock, saying it expects to buy 312,339 shares.

The parent company of LendingTree said the shares will be bought for $7.75 apiece under the modified “Dutch auction” tender offer, for an aggregate purchase price of approximately $2.4 million, excluding fees and expenses.

The company announced in November that it wanted to buy up to $15 million of its stock for $7.25 to $7.75 per share.

Tree.com expects to have approximately 10.8 million shares of common stock outstanding once the 312,339 shares are bought.

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