ValueClick offers to buy back options; take charge

SAN FRANCISCO, Aug 26 (Reuters) - ValueClick Inc (VCLK.O: Quote, Profile, Research, Stock Buzz)
plans a tender offer to buy back up to 4.9 million out-of-the-
money employee stock options in a deal in which the company
could spend up to $5 million in cash, the company said on
Tuesday.

In a filing with the U.S. Securities and Exchange
Commission, ValueClick said it was offering to buy back 4.9
million options with exercise prices ranging from $25.66 to
$29.73 from certain employees, officers and directors.

If all options are tendered, the company expects to pay out
up to $5.0 million in cash payments during the fourth quarter.
ValueClick said it expects to record a non-cash, third-quarter
charge estimated at around $36 million, or 23 cents a share.

The shares of the online advertising company closed down
1.6 percent at $12.79 in trading on Nasdaq on Tuesday.

The tender offer is scheduled to expire on Sept. 24. The
terms of the offer call for the company to make a cash payment
ranging from 82 cents to $1.23 per stock option to those
holders of eligible stock options who elect to participate.
(Reporting by Eric Auchard; Editing by Andre Grenon)