Modis Professional raises shr buyback plan
December 4, 1998 06:37 PM
JACKSONVILLE, Fla., Dec 4 (Reuters) - Modis Professional Services Inc. said on Friday its Board of Directors has expanded the company's share repurchase plan by $110 million, raising the total authorization to $310 million.
The company received authority on October 30, 1998, to repurchase up to $200 million of the company's common stock, the company said in a statement.
Stock repurchases may be implemented through a variety of methods, including open market share repurchases, block transactions, privately negotiated share repurchases, accelerated share repurchase programs, forward repurchase agreements, or other similar facilities, the company said. Modis had about 120 million shares outstanding as of the end of its third quarter.
Modis Professional Services is a global provider of business services, including consulting, outsourcing, outplacement, training, and professional staffing services.
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