Printer Friendly

SYNTEX ANNOUNCES NEW SHARE REPURCHASE PROGRAM

 SYNTEX ANNOUNCES NEW SHARE REPURCHASE PROGRAM
 PALO ALTO, Calif., Sept. 16 /PR Newswire/ -- Syntex Corp.


(NYSE: SYN) said today that its Board of Directors has authorized management to repurchase up to 7 million shares of the company's common stock from time to time over an indefinite period in the open market or through privately negotiated transactions.
 Shares acquired through the repurchase will be held in the company's treasury for future corporate purposes.
 There were approximately 226 million shares of common stock outstanding on Sept. 15, 1992.
 The new program announced today supercedes a previously announced 16 million share repurchase program authorized by the Board in January 1989. Under that program, a total of 3.8 million shares were repurchased in 1989.
 Syntex has purchased 127.9 million common shares (adjusted for stock splits) since adoption of its first major share repurchase program in fiscal 1977.
 Syntex is a multinational healthcare company that discovers, develops, manufactures and markets prescription medicines to treat serious diseases. The company also develops, produces and markets medical diagnostic systems and animal health products.
 -0- 9/16/92
 /CONTACT: Linda Thomas, 415-852-1321, or Nancy Peterson,


415-855-5567, both of Syntex/
 (SYN) CO: Syntex Corporation ST: California IN: HEA SU:


TM -- SJ005 -- 0179 09/16/92 13:50 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Sep 16, 1992
Words:210
Previous Article:PROVIDENT BANKSHARES ANNOUNCES MORTGAGE COMPANY ACQUISITION
Next Article:TAB REPORTS SUBSTANTIAL EARNINGS IMPROVEMENT
Topics:


Related Articles
SYNTEX ANNOUNCES ALL EMPLOYEE STOCK OPTION PLAN
SYNTEX DECLARES CASH DIVIDEND ON COMMON STOCK
SYNTEX DECLARES CASH DIVIDEND ON COMMON STOCK
SYNTEX'S FISCAL 1992 ANNUAL REPORT NOW AVAILABLE; MANAGEMENT DISCUSSES CERTAIN EFFECTS OF OCTOBER 21 COST-REDUCTION ANNOUNCEMENT
NO DIVIDEND CHANGE CURRENTLY CONTEMPLATED, SYNTEX TELLS ANALYSTS
FURTHER DETAILS ON SYNTEX MEETING WITH SECURITIES ANALYSTS
SYNTEX DECLARES CASH DIVIDEND ON COMMON STOCK
AMEX DELAYS REPLACEMENT OF SYNTEX IN PHARMACEUTICAL INDEX; FEDERAL TRADE COMMISSION SEEKS DATA ON TENDER OFFER
SYNTEX (U.S.A.) INC. COMPLETES OFFER TO PURCHASE DEBT SECURITIES

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