Sara Lee initiates accelerated share repurchase program

by Meat&Poultry staff
Share This:

DOWNERS GROVE, ILL. – Sara Lee Corp. has initiated an accelerated share repurchase program under which it will repurchase $500 million of common stock.

The repurchase is part of its recently announced capital plan under which the company intends to buy back $2.5 to $3.0 billion of stock over a three-year period, with $1.0 to $1.3 billion to be repurchased in calendar year 2010.

As a result of the repurchase, the company’s shares outstanding will be reduced from 697 million to approximately 661 million.

Comment on this Article
We welcome your thoughtful comments. Please comply with our Community rules.

 

 


The views expressed in the comments section of Meat and Poultry News do not reflect those of Meat and Poultry News or its parent company, Sosland Publishing Co., Kansas City, Mo. Concern regarding a specific comment may be registered with the Editor by clicking the Report Abuse link.