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Charles River Labs begins $150M stock buyback

Thu, 02/24/2011 - 4:36am
Mass High Tech: The Journal of New England Technology

Charles River Laboratories International Inc. has initiated an accelerated stock repurchase (ASR) program to buy back $150 million in common stock, as part of a larger $750 million stock buyback plan, the Wilmington company announced today.

The ASR program will return 3.7 million shares of common stock to the company. Charles River Laboratories is paying for the buyback with a new $150 million term loan, an add-on to the company’s current credit agreement that includes an earlier $400 million U.S. term loan and $350 million U.S. revolving credit facility.

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