Forest Laboratories, Inc. Buyback
OLI recorded this information on 12/2/2013
Forest Laboratories, Inc.
Finally, the Board of Directors authorized the repurchase of up to $1 billion of common stock. The Company will be entering into a $400 million accelerated share repurchase program before the end of the calendar year. Following the accelerated share repurchase, the remaining $600 million available from the debt issuance will be prioritized toward accretive merger, acquisition and licensing opportunities. The Company has terminated the remaining repurchase authority under its prior share repurchase program.
Forest Road is a blank check company whose business purpose is to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses.
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Hold (2.47 out of 4)
(ranked higher than approx. 50% of all stocks covered)
Based on Zacks ABR data;
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