Farmers update.Farmer Brothers Co. bought 23 percent of its shares from the dissident Crowe family for about $111 million. The Torrance-based company bought back the shares at 21 percent below the closing price the day the agreement was announced. The buyback Buyback The buying back of outstanding shares (repurchase) by a company in order to reduce the number of shares on the market. Companies will buyback shares either to increase the value of shares still available (reducing supply), or to eliminate any threats by shareholders who may , approved by a Superior Court judge, settles issues between the Farmer family, led by Chairman Roy F. Farmer, and a group of shareholders led by the chairman's sister. Farmer Brothers also said it hired Credit Suisse First Boston Credit Suisse First Boston was originally the trading name of the Financière Crédit Suisse-First Boston, a London-based 50-50 investment banking joint venture formed in 1978 between the First Boston Corporation and Credit Suisse. LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control to look into potential acquisitions, stock buybacks Stock buyback A corporation's purchase of its own outstanding stock, usually in order to raise the company's earnings per share. stock buyback See buyback. and extraordinary dividends. |
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