Printer Friendly

CORDIS ANNOUNCES STOCK REPURCHASE PROGRAM

 MIAMI, Apr. 12 /PRNewswire/ -- Cordis Corporation (NASDAQ-NMS: CORD) today announced that its Board of Directors has authorized the repurchase of up to 500,000 shares of its outstanding common stock. The Board's action did not limit the time during which repurchase of the shares must occur. Repurchases will be made from time to time in open market or private transactions, including block trades, with the number of shares actually to be purchased and the price Cordis will pay dependent on market conditions.
 Cordis indicated that it believes that its common stock is currently undervalued given its market price. The company said that any repurchased shares will be made available for use in employee benefit and incentive plans and for other corporate purposes.
 Cordis currently has approximately 14.5 million shares of common stock outstanding.
 Miami-based Cordis Corporation manufactures and markets a variety of medical devices and systems for the angiographic and neuroscience markets.
 -0- 4/12/93
 /CONTACT: Chick McDowell, vice president, corporate relations and assistant secretary of Cordis Corporation, 305-824-2821/
 (CORD)


CO: Cordis Corporation ST: Florida IN: MTC SU:

JB-JJ -- FL021 -- 4927 04/12/93 17:14 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Apr 12, 1993
Words:189
Previous Article:HOME SHOPPING NETWORK ANNOUNCES WITHDRAWAL OF LIBERTY MEDIA OFFER AND SECOND QUARTER EARNINGS RESULTS
Next Article:KTLA-CHANNEL 5 EXPANDS LIVE COVERAGE OF LOS ANGELES PRIMARY ELECTION WITH SPECIAL PRIME-TIME HALF-HOUR
Topics:


Related Articles
CORDIS SAYS FDA RULES AGAINST ADDITIONAL INFORMATION
CORDIS INTRODUCES PERIPHERAL RADIOLOGY PRODUCTS
CORDIS INTRODUCES PERIPHERAL RADIOLOGY PRODUCTS
CORDIS CORPORATION ANNOUNCES AGREEMENT TO ACQUIRE WEBSTER LABORATORIES
CORDIS FINALIZES ACQUISITION OF WEBSTER LABORATORIES
CORDIS ANNOUNCES STOCK REPURCHASE PROGRAM
CORDIS BOARD REJECTS J&J CASH OFFER AND STOCK PROPOSAL; DIRECTS MANAGEMENT TO EXPLORE ALTERNATIVES
JOHNSON & JOHNSON TO SOLICIT CONSENTS TO REMOVE CORDIS BOARD
JOHNSON & JOHNSON AND CORDIS CORPORATION AGREE IN PRINCIPLE TO $109 PER SHARE STOCK-FOR-STOCK MERGER
CORDIS ADOPTS NEW RIGHTS AGREEMENT

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters