Stock Buyback

Icahn Bailing Out of Take Two

  On November 26, 2013, certain of the Reporting Persons entered into a Purchase Agreement (the “Purchase Agreement”) with the Issuer pursuant to which such Reporting Persons agreed to sell to the Issuer an aggregate of 12,020,744 Shares, at a price of $16.93 per share.  The transactions contemplated by the Purchase Agreement are expected to close…

Emulex Finally Agrees to Shareholder Friendly Actions

Emulex Corp, a network connectivity, monitoring and management company has approved a $200 million share repurchase program, which at current market prices represents approximately 30 percent of the Company’s outstanding shares. The Company today is also announcing a cost savings program that is expected to generate $30 million in annual cost savings over the fiscal 2013 spending level, expanding…

SL Industries Conducting Dutch Auction Tender

SL Industries, Inc.  has commenced a modified “Dutch auction” tender offer to repurchase up to $10 million of its common shares at a price per share not less than $12.00 and not greater than $13.50.  The tender offer will expire at 12:00 midnight, New York City time, on Wednesday, June 27, 2012 (which is the end…

JAKKS Commences Self-Tender

JAKKS Pacific, Inc. has commenced an offer to its shareholders to purchase up to 4,000,000 shares of its common stock at a price of $20 per share. The self-tender offer will expire at midnight, New York City time, on June 27, 2012, unless it is extended or withdrawn. The self-tender offer is not conditioned upon obtaining…

Maxygen Inc. to Repurchase More Stock

Maxygen, Inc, a biotechnology company, has approved a new stock repurchase program under which the company may purchase up to $10.0 million of its common stock through December 31, 2012. Under its prior repurchase program, which expired at the end of 2011, Maxygen repurchased approximately 2.0 million shares of its common stock through September 2011 at…

American Greetings Authorizes Share Buyback

American Greetings Corporation Board of Directors has authorized the repurchase of up to $75 million of Class A common shares. The share repurchases are currently expected to be made through open market purchases or privately negotiated transactions as market conditions warrant, at prices the Company deems appropriate, and subject to applicable legal requirements and other factors….

Kratos Defense’s Block Trade with MMI

Kratos Defense & Security Solutions, Inc., announced that it has repurchased in the open market from an institutional investor 2,000,000 shares of its common stock for $5.45 per share, in a block transaction in compliance with legal requirements. B. Riley & Co. LLC executed the repurchase of the KTOS shares on behalf of Kratos. Bryant Riley,…

Advanced Energy Announces Significant Buyback

Advanced Energy Industries, Inc. Board of Directors has authorized the company to repurchase up to $75 million of its common stock over the next 12 months. Purchases under the program may be made from time-to-time in the public or private markets, through block trades, Rule 10b5-1 trading plans or other available means and may include the…

Oritani Financial Announces Third Buyback

Oritani Financial Corp. announced that its Board of Directors has authorized the repurchase of up to 5% of its outstanding shares of common stock, or 2,278,776 shares. In conjunction with the commencement of a third repurchase plan, the Company also announced the completion of its second 10% repurchase plan. That plan, which was announced on…

ReachLocal Announces Buyback

ReachLocal, Inc. which provides local online marketing solutions for small- and medium-sized businesses, announced that its Board of Directors has approved a $20 million share repurchase program. As of September 30, 2011 ReachLocal had more than $94 million of cash, cash equivalents and short-term investments.  Under this program, ReachLocal is authorized to repurchase up to $20 million…

The Korea Fund to Buy Back if Discount to NAV

Fund will repurchase, commencing November 1, 2011, its common shares in the open market on any day that the Fund’s shares are trading at a discount of 8% or more from net asset value the prior day and there is a daily average discount of 8% or more from net asset value over the 5-day period ending the prior day.

Dell Expands Stock Buybacks Significantly

(Dell has a market cap of $26.2 billion and an EV of $18 billion.  It is trading at an EV/EBITDA of 3.3x.  These types of depressed valuations on mega-cap, cash rich companies make us wonder why anyone would even bother messing with small-caps nowadays?) ROUND ROCK, Texas–(BUSINESS WIRE)– Dell’s board of directors has authorized $5 billion for stock repurchase,…

Digital River Announces Large Buyback

 (Digtal River has a market cap of $754 mm and an EV of $290 mm) MINNEAPOLIS–(BUSINESS WIRE)– Digital River, Inc. (NASDAQ: DRIV), a leading provider of global e-commerce services, announced that its Board of Directors authorized a share repurchase program of up to $100 million of its outstanding common shares. The shares may be repurchased…

Amkor Announces Large Share Buyback

(Amkor has a market cap of $859 mm and an EV of $1.7 billion) CHANDLER, Ariz.–(BUSINESS WIRE)–      Amkor Technology, Inc. (NASDAQ:AMKR – News) today announced that its Board of Directors has authorized the repurchase of up to $150 million of the Company’s common stock. “We believe this stock repurchase program will enhance stockholder value and…

Sykes Authorizes 11% Share Buyback

(Sykes has a market cap of $622 mm and an EV of $410 mm.  It is trading at 3X EBITDA, has decent insider ownership and appears to have generated healthy free cash flow over the past few years.  Hence we think it is worth a look.) TAMPA, Fla., Aug. 19, 2011 (GLOBE NEWSWIRE) — Sykes Enterprises, Incorporated…

Apollo Commercial RE Announces Buyback

(Apollo Commercial has a market cap of $313 mm and is trading at a dividend yield of 10.7%) NEW YORK, NY–(Marketwire -08/12/11)- Apollo Commercial Real Estate Finance (the “Company”) (NYSE: ARI – News) announced today that its Board of Directors has authorized the repurchase of up to $35 million of its outstanding common stock over…

Wyndham Adds $500 mm to Buyback

 (Wyndham has a market cap of $4.8 billion and an EV of $7.9 billion)  PARSIPPANY, N.J., Aug. 11, 2011 /PRNewswire/ — Wyndham Worldwide Corporation (NYSE:WYN – News) announced today that its Board of Directors increased the Company’s share repurchase authorization by $500 million.  The Board also declared a regular quarterly cash dividend of $0.15 per…

NutriSystem Authorizes Buyback = 40% of Market Cap

(NutriSystem has a market cap of $373 mm and an EV of $338 mm; the stock has a dividend yield of 5%) FORT WASHINGTON, Pa.–(BUSINESS WIRE)– Nutrisystem, Inc. (NASDAQ:NTRI – News), a leading provider of weight management products and services, today reported financial results for the second quarter 2011. The company also announced that the…

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