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Helen of Troy Ltd announces plan to repurchase $550 mln of shares


Monday, 10 Feb 2014 06:00am EST 

Helen of Troy Ltd:Says its Board has authorized the repurchase of $550 mln of its outstanding common shares in keeping with its stated intention, first noted in April 2013, to return to shareholders capital not otherwise deployed for strategic acquisitions.The company will today commence a modified 'Dutch Auction' tender offer to purchase up to $300 mln of its common stock and plans to initiate a subsequent repurchase of an additional $250 mln of its common stock over the next three years, at times and prices to be determined.In total, the $550 mln share repurchase plan represents about 28.88 pct of the company's outstanding common stock, based upon the company's closing price on Feb 7.As of Feb 5, Helen of Troy had about 32.091 mln shares outstanding. 

Company Quote

58.02
-0.21 -0.36%
22 Aug 2014