|
Post by bot on May 9, 2014 22:56:18 GMT -5
NEW YORK (MarketWatch) -- Ford Motor Co. said Wednesday it will buy back up to 116 million shares worth about $1.8 billion to offset the dilutive impact of some of its convertible debt. From Nov. 20 of this year, the company can terminate the conversion rights of holders of its 4.25% senior notes due Nov. 15, 2016. The holders have the right to convert some of their notes into shares. Ford said it will buy back another up to 12.6 million shares to combat the dilutive effect of employee stock options granted in 2012 and 2013. CFO Bob Shanks said the action will reduce the company's diluted shares by about 3%. Shares rose 1% in after-hours trade on the news.
|
|