Seagate Technology Inc says that it has approved a $500m increase to its existing stock repurchase program. In June 1997, the company’s board had approved purchases on the open market totaling up to $600m. As of February 15, Seagate had repurchased nearly 15.3 million shares of its Common Stock for a total of nearly $514m under the existing authorization, including over 12 million shares purchased during its current fiscal year, for a total of nearly $426m.
SEAGATE TO REPURCHASE UP TO ANOTHER $500M IN SHARES
