Marathon Petroleum in ASR under recent authorization
This press release was out at 8:30 am February 3. Marathon Petroleum announced that it has entered into an $850M accelerated share repurchase, ASR, program under its recently authorized $2B share repurchase initiative. The total number of shares to be repurchased will be based generally on the volume-weighted average price of MPC stock during the repurchase period, subject to provisions that set a minimum and maximum number of shares. At yesterday's closing price of $42.56 the total shares to be acquired under the ASR would represent approximately 5.6 percent of shares outstanding at year-end 2011. It is anticipated all repurchases under the ASR will be complete on or before the end of the third quarter of 2012. :theflyonthewall.com
Cardinal Health gets temporary reprieve from DEA suspension order
Today Cardinal Health was granted a temporary restraining order against the Drug Enforcement Administration's, DEA, immediate suspension order of its Lakeland, Fla. DEA registration. U.S. District Court for the District of Columbia Judge Reggie B. Walton granted the temporary restraining order that allows Cardinal Health to immediately resume shipments of controlled medicines from its Lakeland facility to hospital and pharmacy customers pending a preliminary injunction hearing currently scheduled for February 13. :theflyonthewall.com
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