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news.Edwards Lifesciences has announced that its board of directors has authorized a new share repurchase program to acquire up to $250 million of the company's outstanding common shares.
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The company may repurchase shares in the open market or in privately negotiated transactions. According to the company, the timing and extent of any repurchase will depend upon market conditions, corporate requirements and other factors.
During the first half of 2008, Edwards repurchased a total of 4.6 million shares for approximately $235 million. As of June 30, 2008, the company had approximately 56.2 million shares of common stock outstanding.
Michael Mussallem, Edwards Lifesciences’s chairman and CEO, said: “This new program reaffirms the confidence we have in our future growth prospects, and provides us with an opportunity to continue to increase shareholder value.”