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Non-Tech : AZTAR ( AZR )

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To: T Pat who wrote ()5/18/1999 11:11:00 AM
From: Paul Lee  Read Replies (1) of 161
 
Aztar Corporation Announces Stock Repurchase Program

PHOENIX, May 18 /PRNewswire/ -- Aztar Corporation (NYSE: AZR) announced today that its board of directors has authorized management to make discretionary repurchases of up to 3.5 million shares of its common stock, or about eight percent of the shares of common stock outstanding. Such repurchases, if any, may be made from time to time in the open market or in privately negotiated transactions, depending upon market prices and other business factors. All Aztar stock repurchases are subject to covenants in Aztar's senior subordinated note indentures and bank credit facility, the most restrictive of which currently limits stock repurchases to $30 million.
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