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Reply #39: don't know if this means anything [View All]

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Home » Discuss » Archives » General Discussion (01/01/06 through 01/22/2007) Donate to DU
Sydnie Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Feb-25-06 10:30 PM
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39. don't know if this means anything

ChoicePoint Increases Share Buyback;
Terminates Shareholder Rights Plan

ALPHARETTA, GA January 31, 2006 The Board of Directors of ChoicePoint Inc. (NYSE: CPS) has increased the value of the company's current share buyback program. At today's regular Board meeting, directors also approved the termination of the company's shareholder rights plan, commonly referred to as a "poison pill."
The Board increased the value of the company's previously announced share buyback program by $125 million to a total repurchase value of $375 million. ChoicePoint has already repurchased 2.9 million shares valued at $125.6 million since the repurchase program was initiated in August 2005.

The shareholder rights plan was initially adopted in connection with the company's spin-off in 1997 and would have terminated by its terms in November 2007. The decision to terminate the rights plan reflects the Board's strong belief in transparency and commitment to being at the leading edge of governance practices.

The Board's decisions are effective immediately.

Are they looking to take apublic company private?
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