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News Breaks | | | | January 21, 2013 | | 19:18 EDT |  | OMG | OM Group announces repurchase of up to $50M of shares
OM Group announced that its board has authorized the repurchase of up to $50M of its common shares. The company said it may utilize various methods to effect the repurchases, which may include open market repurchases, negotiated block transactions, accelerated share repurchases or open market solicitations for shares, some of which may be effected through 10b5-1 Plans. Any repurchases would be funded from cash on hand or borrowings under the company's credit facilities. The authorization represents approximately 7% of the company's current outstanding common shares based on last Friday's closing price. | |
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