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Genesco announces up to $100 mn share repurchase program
13 Mar '08
3 min read
Stock Repurchase Program and Expected Share Distribution
The Company also announced that its board of directors has authorized it to repurchase up to $100 million of the Company's common stock. The repurchases are anticipated to be funded primarily with the cash proceeds from the settlement of the merger-related litigation.
This program is intended to be implemented through purchases made from time to time using a variety of methods, which may include open market purchases, private transactions, block trades, or otherwise, or by any combination of such methods, in accordance with SEC and other applicable legal requirements. The Company currently has approximately 22.8 million shares outstanding.
The timing, prices and sizes of purchases will depend upon prevailing stock prices, general economic and market conditions and other considerations. The repurchase program does not obligate the Company to acquire any particular amount of common stock and the repurchase program may be suspended or discontinued at any time at the Company's discretion.
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The Company also announced that its board of directors has authorized it to repurchase up to $100 million of the Company's common stock. The repurchases are anticipated to be funded primarily with the cash proceeds from the settlement of the merger-related litigation.
This program is intended to be implemented through purchases made from time to time using a variety of methods, which may include open market purchases, private transactions, block trades, or otherwise, or by any combination of such methods, in accordance with SEC and other applicable legal requirements. The Company currently has approximately 22.8 million shares outstanding.
The timing, prices and sizes of purchases will depend upon prevailing stock prices, general economic and market conditions and other considerations. The repurchase program does not obligate the Company to acquire any particular amount of common stock and the repurchase program may be suspended or discontinued at any time at the Company's discretion.
Click here to read more details:
Genesco Inc
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