| Tech Stock News and Analysis |
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| Tuesday, November 14, 2006 |
Business software provider Lawson Software Inc. said Monday its board approved a share repurchase program of up to $100 million.
The stock repurchase will be funded using Lawson's existing cash balance and future cash flows, the company said. The company had about 186.4 million shares outstanding as of Aug. 31.
Share repurchases will be through open market purchases, private transactions or structured transactions through investment banking institutions, the company said.
Shares of Lawson advanced 2 cents on Monday to close at $7.57 on the Nasdaq. In aftermarket activity, they lost 45 cents, or 5.9 percent, to $7.12. They have ranged between $5.39 and $8.25 over the past year.
Shares were trading down 45 cents, or 5.9%, to $7.12 in Nasdaq trading on Tuesday morning. |
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