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Article: Borders Group Amends Existing Share Repurchase Program
- Article from:
- PR Newswire
- Article date:
- September 18, 1997
CopyrightCOPYRIGHT 1997 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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ANN ARBOR, Mich., Sept. 18 /PRNewswire/ -- Borders Group, Inc. (NYSE: BGP) today announced that its Board of Directors has authorized an increase to the existing share repurchase plan. The new program increases the total authorized repurchase amount from $50 MM to $100 MM, plus any proceeds and tax benefits resulting from stock option exercises. Neither specific price targets nor timeframes were established for making purchases under the program, and the authorization is subject to lender consent.
Borders Group, Inc. is the world's second largest retailer of books, music, and other informational, educational, and entertainment products. The Borders Group ...