Wendy's Buys Back 3.75M Shares for $207M
Wendy's Buys Back 3.75M Shares of Its Common Stock for About $207M in Accelerated Transaction
Wendy's International Inc. repurchased 3.75 million shares of its common stock for about $207 million in an accelerated buyback transaction.
The fast-food restaurant chain said Thursday the shares will be used for general corporate purposes.
Wendy's said the initial price paid per share was $55.17. The repurchased shares are subject to a future contingent-purchase price adjustment expected to be settled during the first quarter of 2006. The company doesn't expect the purchase price adjustment to be material.
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Source - AP
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