Date: Tuesday August 28, 2007 12:02:00 pm
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United buys back $200 million worth of shares
August
2007 — Deerfield (IL): United Stationers’ board of directors has
approved an expanded stock repurchase programme of an additional $200
million worth of common stock.CEO Dick Gochnauer said: “We recently
amended our credit agreement to increase our borrowing capacity as well
as to provide greater flexibility for share repurchases. This, combined
with our ability to generate strong cash flow, allows us to return
value to our shareholders through a continuing share repurchase
programme.”This buyback of $200 million is in addition to the $100
million authorised on 9 May. The company has approximately $32 million
remaining under this previous authorisation.
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