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Biotech / Medical : RXSD Rexall Sundown -- Ignore unavailable to you. Want to Upgrade?


To: Dorine Essey who wrote (99)9/29/1998 9:56:00 AM
From: Anthony Wong  Respond to of 327
 
Dorine, thanks for the news release. A good move by RXSD, should scare off some of the shorters.

Anthony



To: Dorine Essey who wrote (99)9/29/1998 10:41:00 AM
From: Anthony Wong  Read Replies (1) | Respond to of 327
 
Reuters' story on the buyback:

Tuesday September 29, 10:04 am Eastern Time

Rexall Sundown to buy back shares

BOCA RATON, Fla., Sept 29 (Reuters) - Rexall Sundown Inc, a maker of nutritional supplements, said Tuesday that its board authorized the repurchase of up to $100 million of its common stock.

Stock will be repurchased from time to time in the open market, or in private transactions.

At Monday's closing price of $16.25, the repurchase program would allow the company to buy about 8.5 percent of the total common stock outstanding or nearly 17 percent of the shares in the public float.

As of May 31, the end of its third fiscal quarter, Rexall Sundown had $99.6 million in cash and marketable securities and no long-term debt on its Balance Sheet.

The repurchase authorization has no expiration date.