Nintendo to reacquire 2.2 million shares

Posted on Monday, August 29 2005 @ 4:20 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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Thomas De Maesschalck

Thomas has been messing with computer since early childhood and firmly believes the Internet is the best thing since sliced bread. Enjoys playing with new tech, is fascinated by science, and passionate about financial markets. When not behind a computer, he can be found with running shoes on or lifting heavy weights in the weight room.

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