E.F.I. TO BUY BACK $100Mln IN SHARES

[Anonymous]

http://www.tradingmarkets.com/.site/news/Stock%20News/2186792/
Electronics For Imaging Authorizes $100 Million Buyback
Electronics
For Imaging, Inc.’s board has approved a $100 million share repurchase
program, including a $30 million accelerated share repurchase,
utilizing a portion of proceeds from the sale of the company’s real
estate in Foster City, California.The new share repurchase
authorization replaces a previously-approved share repurchase program,
including a remaining amount of around $33 million that was available
for repurchases under that program.Electronics For Imaging also said
that it entered into an agreement with UBS AG, London Branch to
repurchase $30 million of its common stock under the ASR. The final
number of shares to be repurchased under the ASR will be determined
based on market prices of the company’s common stock during the term of
the ASR agreement.As a result of entering into the ASR, the company
said it expects that, during the term of the ASR, UBS will be
purchasing the company’s common stock in the market. Electronics For
Imaging said it expects to complete the repurchases under the ASR in
the second or third quarter of 2009, with the final completion date
subject to the discretion of UBS.

Forster City, California-based
Electronics For Imaging offers digital printing products. The company’s
product portfolio includes Fiery digital color print servers, Butek
superwide digital inkjet printers, UV and solvent inks, Rastek UV
wide-format inkjet printers, Jetrion industrial inkjet printing
systems, print production workflow and management information software
and corporate printing solutions.

[Author]

February 25, 2009 at 12:20 PM