Article: Borders Group Announces Authorization of Share Repurchase Program

ANN ARBOR, Mich., Nov. 26 /PRNewswire/ -- Borders Group, Inc. (NYSE: BGP) today announced that its Board of Directors has authorized and its bank group has provided the necessary covenant relief to enable a $50 million share repurchase program. The purpose of the program, in part, is to offset future dilution from stock-based incentive plans. Neither specific price targets nor timeframes were established for making purchases under the program. Management indicated that it has no immediate plans to make purchases under the program.

Borders Group, Inc. is the world's second largest retailer of books, music, and other informational, educational, and ...

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