Donnelley Reports Sales Growth, Announces $1 Billion Share Repurchase
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Share repurchases may be made from time to time through a variety of methods, as determined by the company’s management. The repurchase authorizations do not obligate it to acquire any particular amount of common stock and may be modified, suspended or terminated at any time at the Company's discretion. In connection with the authorization, RRD intends to enter into an accelerated share repurchase (ASR) agreement with an investment bank under which it will repurchase $500 million of its common stock on terms to be negotiated, subject to adjustments. Following the ASR, the company’s intention is to complete the remaining amount under the authorization by December 31, 2012.
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- RR Donnelley
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