Shares of Diamond Management & Technology Consultants, Inc. (DTPI) jumped 7.6% to an intraday high of $6.36 after the company announced the preliminary results of its Dutch auction in which it expects to acquire 2.65 million shares at $6 per share for a total purchase price of $15.9 million. These shares represent approximately 9% of the 29.7 million outstanding as of February 29, 2008.

Morgan Stanley served as the dealer manager for the tender offer, and BNY Mellon Shareowner Services served as the depository and information agent. Final results for the tender offer will be determined subject to confirmation by BNY Mellon Shareowner Services. The actual number of shares to be purchased and the price will be announced following the completion of the confirmation process.

Diamond, which is headquartered in Chicago, consults clients all over the world in such industries as consumer packaged goods, financial services, logistics, manufacturing, retail and distribution, telecommunications, healthcare, insurance, and public sector organizations. The company, which boasts more than 600 employees worldwide, says it delivers three critical elements to every project: fact-based objectivity, spirited collaboration, and sustainable results.

During a Dutch auction share repurchase, a company offers a specific price range within which it will repurchase its shares. The purchase price is the lowest price that allows the firm to buy the number of shares sought. The firm then pays that price to all investors who tendered at or below that price.

Diamond’s Dutch auction began on February 12, 2008 and lasted for 20 business days. The company plans to finance the repurchase from its existing cash and cash equivalents balance, which was approximately $65 million as of December 31, 2007.

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