CBS Sets Final Results on Stock Repurchase:...

CBS Sets Final Results on Stock Repurchase: CBS Inc. said Loews Corp. will hold a stake of about 23% after completion of CBS’s tender offer to repurchase 10.53 million shares for $190 apiece. In addition, the estate of William S. Paley will have about 5% of the company’s common stock outstanding after the tender offer. CBS said a total of 21.76 million shares were tendered, more than twice the number the company offered to buy back. All 38,110 shares tendered by owners of odd lots--less than 25 shares--were accepted for payment by the company. As a result, the final proration factor for the other 21.72 million CBS shares tendered into the offer was set at 48.277%, the company said.