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

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

 user 2009-02-25 at 12:20:39 pm Views: 64
  • #21642

    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.