Share Repurchase Program Update
Subsequent to December 31, 2012, the company has repurchased 4.0 million shares at an average cost of $40.61. There is currently $787.6 million remaining on the existing $1 billion share repurcha
$800m more buybacks to come as the orchestrated Ackman crush sets in. I don't feel bad for Ackman, he deserves to be cruched and perhaps lose all of his fund on redemptions and what Icahn called the coming "mother of all short squeezes." Ackman is likely also hedged up to about the high $40s or so . How about all the retail shorts who don't know what "appropriately hedged" even means?
At this rate they can buy back another 15-20 million easy and use the dividend to partially off-set the interest rate of the debt and hopefully get rid of guys like Einhorn and Ackman for good. That should push the dividend to 4-5% and raise the premium for shorting while making going private easier. Yep, that could fix a lot of problems.
The comments above are out of the press release, whereby they are emphasizing FY to the shorts, including that they are willing and able to buy above yesterday's close... with conviction and authority.
Now you say plz? You call me names and then ask questions about buying in shares under a repurchase agreement during the quiet period immediately pre earnings when they are going to announce record earnings, revenues, raising the dividend and guidance? ROFLOL
They are free to resume buying after the CC dissemination.