PURCHASE, N.Y. – MasterCard, which went public in 2005, is asking credit unions to sell back their shares to the company–one of the hottest stocks of the past decade. The tender offer was scheduled to end last weekend. Since going public in May 2005 at $39 a share, MasterCard shares have soared to more than $165–a quadrupling–before settling Friday at $147.97 amidst the overall market slump. In order the facilitate the buyback, MasterCard has lifted the provision on the shares it issued to its credit union and bank members barring a sale of the IPO shares for three years.
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