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Sun Announces Stock Repurchase Program
Sun Intends to Acquire up to $1.5 Billion Outstanding Common Stock
Sun’s Board of Directors have authorized a stock repurchase program, in which Sun
intends to acquire up to $1.5 billion of its outstanding common stock in the
market. This repurchase program is in addition to Sun’s ongoing systematic stock
repurchase program.
Under this new program, share purchases may be made from time to time depending
on market conditions, share price, and other factors.
The purchase will be funded from available working capital and the repurchased
shares will be held in treasury or used for ongoing stock issuances such as
for employee stock plans.
As of January 31, 2001, Sun had approximately 3.26 billion shares of common stock outstanding.
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