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Nintendo to reacquire 2.2 million shares
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Posted on Monday, August 29 2005 @ 04:20:02 CEST by Thomas De Maesschalck |
To prevent becoming a victim of a hostile stock takeover Nintendo decided to acquire 2.2 million shares of its own stock.
The figure represents 1.55 percent of the 130.08 million shares currently outstanding. The company will purchase the shares next week and will pay 11,650 yen ($106) a share, the same as today's closing price.
The purchase is expected to cost the company a total of 25.63 billion yen ($233.5 million), assuming the company can acquire all 2.2 million shares.
More details at Gamespot
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