Apparently believing that the best use of its $200+ million cash hoard is to make an investment in a growing company, Marvel announced on Wednesday that it would repurchase up to an additional $150 million worth of Marvel stock. There is still $13 million left from its $100 million repurchase authorization last summer (see 'Marvel Board Authorizes $100 Million Stock Repurchase'); the board has now authorized a total of $250 million in stock repurchases over the past year. The current authorization extends until June 2006.
On Marvel Stock
Posted by ICv2 on May 11, 2005 @ 11:00 pm CT