LEXMARK TO RE-PURCHASE $100Mil IN STOCK FROM ………

  • ncc-banner-902-x-177-june-2017
  • clover-depot-intl-us-ca-email-signature-05-10-2017-902x1772
  • 4toner4
  • banner-01-26-17b
  • ces_web_banner_toner_news_902x1776
  • cartridgewebsite-com-big-banner-02-09-07-2016
  • mse-big-banner-new-03-17-2016-416716a-tonernews-web-banner-mse-212
  • Print
  • 2toner1-2
  • 05 02 2016 429716a-cig-clearchoice-banner-902x177
Share

LEXMARK TO RE-PURCHASE $100Mil IN STOCK FROM ………

 user 2008-10-29 at 11:03:46 am Views: 116
  • #20589

    http://www.forbes.com/feeds/ap/2008/10/22/ap5593177.html
    Lexmark to repuchase $100M in stock from BofA
    DALLAS -Lexmark International Inc. said Wednesday it has agreed to buy back $100 million of its shares from Bank of America.Lexmark said it agreed after the market closed Tuesday to pay $25.71 per share – the stock’s closing price for the day – in an accelerated-buyback agreement.Lexington, Ky.-based Lexmark said in a Securities and Exchange Commission filing that it would pay for the stock out of cash.

    Bank of America agreed to turn over 3.3 million shares, 85 percent of the purchase, on Friday. For the rest of the term of the agreement, the number of shares Bank of America will deliver will be adjusted based on daily volume-weighted average prices. The buybacks are expected to be completed by year end, Lexmark said.

    Lexmark said $506 million remains under its current stock buyback authorization following the transaction.Shares of the computer printer maker rose 80 cents, or 3.1 percent, to close at $26.51. Bank of America shares fell $1.31, or 5.5 percent, to $22.66.