Alex. Brown Inc. Terminates Stock Repurchase Program.BALTIMORE--(BUSINESS WIRE)--Aug. 27, 1997--A.B. Krongard, chairman and chief executive officer, announced that Alex. Brown Inc.'s board of directors Wednesday approved the termination of its stock repurchase Stock repurchase A firm's repurchase of outstanding shares of its common stock. program, which had a remaining repurchase authorization of approximately 1.5 million shares. On April 6, 1997, Bankers Trust New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of Corp. and Alex. Brown Inc. announced the signing of a definitive agreement to merge. The combined company will have strong capabilities in every aspect of financing and advisory services advisory services advisory services provided to the public, in their capacity as owners and managers of animals, are an important part of veterinary science. They may be provided by government bureaux, by commercial companies who deal in pharmaceuticals or animals or animal and will be a premier provider of these services to growing companies and those in rapidly changing markets. On Aug. 13, 1997, shareholders of Bankers Trust New York Corp. and Alex. Brown Inc. overwhelmingly approved the proposed merger of the two firms. The merger is expected to close on Sept. 1, 1997. Alex. Brown Inc. is a holding company whose primary subsidiary is Alex. Brown & Sons Inc., the oldest investment banking firm in the United States. The common stock of Alex. Brown Inc. is traded on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. under the symbol "AB." Alex. Brown Inc.'s senior notes are traded on the New York Stock Exchange under the symbol "AB 05." CONTACT: Alex. Brown Inc., Baltimore Beverly L. Wright, CFO See Chief Financial Officer. , 410/895-4260 Internet: bwright@alexbrown.com |
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