White Mountains Insurance Group announced the final results of its modified Dutch auction tender offer on Christmas Eve. The company is purchasing all validly tendered shares for approximately $131.3 million.

The shares purchased in the tender offer represent approximately 2.5 per cent of White Mountains’ shares outstanding as of November 19.

Payment for the shares purchased under the tender offer will be made promptly. The offer expired on December 19.

Based on the final count by the depositary for the tender offer, 64,064 shares were properly tendered and not properly withdrawn at or below the final purchase price of $2,050 per share.

The firm expects to have approximately 2,479,677 common shares outstanding as of the time immediately following payment for the accepted shares.