Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

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Wednesday, June 20, 2007

Expedia, Home Depot Announce Stock Buybacks

Two big stock buybacks were announced yesterday:  Expedia and Home Depot.  Expedia will buy back one-third of its outstanding shares; after the buyback, Chair Barry Diller will control 41% of the stock.  Home Depot increased its buyback program by $22.5 billion, financed by the sale (to a consortium of private equity firms) of a supply unit that was associated with its former CEO Nardelli, cash on hand, and sale of $12 billion in notes.  See NYTimes, Big Buyback of Shares Is Set by Expedia and  Home Depot Sells a Unit That Never Fit.

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