Final results of Bermuda-based property catastrophe reinsurer LaSalle Re's Dutch auction self-tender offer, which expired April 25, have the company agreeing to purchase 3,703,703 shares of its stock at a price of $27 per share.

The company said the final proration factor for the shares tendered at that price, other than shares tendered by odd lot holders, was about 67.24 percent.

A total of 9,733,297 common shares and common share equivalents were tendered in the offer at prices ranging from $27 to $30. In total, 5,508,314 shares were tendered at the price of $27.

LaSalle Re said the depositary for the offer would promptly issue payment for the accepted shares and return all shares not accepted.

After the purchase of shares for the stated purpose of cancellation, the company will have 21,864,183 common shares and common share equivalents outstanding.

The company commenced March 28 its offer to purchase for $27 to $30 per share up to 3,703,703 of its outstanding common shares, or about 22 percent of its then outstanding shares (some 45 percent of the publicly held shares) and about 15 percent of the aggregate of its (i) shares outstanding, (ii) shares reserved for issuance upon exercise of exercisable options thereon, (iii) shares reserved for the exchange of the exchangeable non-voting shares, and (iv) shares reserved for issuance upon exercise of options on the exchangeable non-voting shares.