Logitech Announces New Share Buyback Program
September 10, 2008 | by Logitech
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September 10, 2008, FREMONT, Calif. and ROMANEL-SUR-MORGES, Switzerland. Logitech International (SWX: LOGN) (NASDAQ: LOGI) today announced that its board of directors has approved a new share buyback program, which authorizes the Company to invest up to $250 million to purchase its own shares, subject to the approval of the Swiss Takeover Board. The new program will begin after the Company completes its current share buyback program of $250 million. Under the current program, which began in February 2008, Logitech has repurchased a total of 3,934,000 shares for $111 million as of Sept. 5, 2008.
Under Logitech’s share buyback program, shares may be repurchased from time to time on the open market, through block trades or otherwise. Purchases may be started or stopped at any time without prior notice depending on market conditions and other factors.
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Source: Logitech, Press release