Omnicare Adopts Rule 10b5-1 Plan in Conjunction with Share Repurchase Program
Omnicare, Inc. (NYSE: OCR), announced today that it has adopted a Rule 10b5-1 plan for the purpose of repurchasing up to $75 million of its common stock in accordance with guidelines specified under Rule 10b5-1 of the Securities Exchange Act of 1934 and the Company's policies regarding stock transactions. This plan has been established pursuant to, and as part of, the Company's share repurchase program. As previously announced, the Company's board of directors authorized an additional $200 million share repurchase program through February 28, 2014. Collectively with its existing share repurchase program, which is effective through December 31, 2012, the Company had approximately $259 million of available authorization for share repurchases as of February 22, 2012.
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.