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Allen Berrebbi
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Post subject: MARVEL ANNOUNCES $100 MILLION STOCK BUYBACK COMPLETION Posted: Mon Jun 05, 2006 10:25 am |
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Joined: | 07 Sep 2004 |
Posts: | 8455 |
Location: | Tampa, FL |
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Could they be going private? Wouldn't be the worst thing.
Press Release
Marvel Entertainment, Inc. (NYSE: MVL), a global character-based entertainment and licensing company, announced today that it has repurchased the full $100 million in common stock under its May 2006 authorization and that its Board of Directors has authorized an additional $100 million to be used for the repurchase of the company's common stock.
Pursuant to the authorization, Marvel may purchase shares from time to time through May 31, 2007 in the open market or through privately negotiated transactions. Purchases will be funded from working capital or from borrowings. Marvel has no obligation to repurchase shares under the authorization, and the timing, actual number and value of shares to be purchased will depend on many factors, including the performance of Marvel's stock price, its cash flow and market conditions. Marvel's Vice Chairman, CEO and the company's largest shareholder, Isaac Perlmutter, has agreed to not sell any shares while the repurchase program is in place.
Marvel's Chairman, Morton Handel, commented, "Given our continued confidence in Marvel's ability to generate strong levels of free cash flow as well as the modest capital needs of our unique business model, the Board continues to believe that share repurchases are an excellent use of capital that should enhance shareholder value over the
long-term.
"Since the commencement of our share repurchase programs in July 2004, Marvel has repurchased 33.4 million shares for an aggregate purchase price of $600 million, or approximately $17.95 per share. Our common stock repurchases have reduced Marvel's weighted average diluted shares outstanding to approximately 85.0 million shares, providing what we believe is an important and recurring benefit to our shareholders."
_________________ DISCLAIMER: Everything I say from here on in is my opinion, semantics be damned. Allen Berrebbi Owner KRB Media
Big Bang Comics The Knight Watchman KRB Media
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James C. Taylor
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Post subject: MARVEL ANNOUNCES $100 MILLION STOCK BUYBACK COMPLETION Posted: Mon Jun 05, 2006 10:41 am |
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a k a LightningMan, lover of bountiful pulchritude
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Joined: | 16 Aug 2004 |
Posts: | 23669 |
Location: | Wilmington, NC USA |
Bannings: | 1 |
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There are other business reasons for a buyback beyond going back private, primarily as a means to support or inflate stock value of the remaining shares.
_________________ Affecting the universe...with my mind!
Buy IMWAN 4 books!
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Allen Berrebbi
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Post subject: MARVEL ANNOUNCES $100 MILLION STOCK BUYBACK COMPLETION Posted: Mon Jun 05, 2006 10:45 am |
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Joined: | 07 Sep 2004 |
Posts: | 8455 |
Location: | Tampa, FL |
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James C. Taylor wrote: There are other business reasons for a buyback beyond going back private, primarily as a means to support or inflate stock value of the remaining shares.
Oh I know. I was just intrigued by the possibility.
_________________ DISCLAIMER: Everything I say from here on in is my opinion, semantics be damned. Allen Berrebbi Owner KRB Media
Big Bang Comics The Knight Watchman KRB Media
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Judge WAN
IMWAN Mod |
Post subject: MARVEL ANNOUNCES $100 MILLION STOCK BUYBACK COMPLETION Posted: Mon Jun 05, 2006 1:11 pm |
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He Keeps WAN with his BANgiver
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Joined: | 01 Aug 2005 |
Posts: | 31394 |
Location: | Mega City WAN |
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James C. Taylor wrote: ...buyback beyond...
New animated series?
_________________ Aren't you glad you talked about this? Here, on IMWAN?
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Mark
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Post subject: MARVEL ANNOUNCES $100 MILLION STOCK BUYBACK COMPLETION Posted: Mon Jun 05, 2006 1:19 pm |
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How does
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Joined: | 28 Jul 2005 |
Posts: | 20170 |
Location: | Keystone City |
Bannings: | fear taste? |
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Marvel could buyback my one stock for $100 Million
_________________ "I'm right 97% of the time. Who cares about the other 4%?"
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Fraxon!
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Post subject: MARVEL ANNOUNCES $100 MILLION STOCK BUYBACK COMPLETION Posted: Mon Jun 05, 2006 3:03 pm |
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Joined: | 22 Aug 2004 |
Posts: | 40603 |
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New from Marvel: "Buyback Mountin'"
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