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Aflac Incorporated
Aflac Incorporated Enters into Agreement to Repurchase Shares
September 12th, 2008
Aflac Incorporated (NYSE: AFL) announced that it has entered into an agreement with Goldman, Sachs & Co. to repurchase Aflac's common shares. Aflac has paid Goldman Sachs $825 million to buy a variable number of shares throughout the term of the agreement. Goldman Sachs will deliver shares to Aflac in December 2008 and January 2009, with final settlement occurring upon termination of the agreement in February 2009. Aflac is acquiring these shares as a part of previously announced share repurchase authorizations by its board of directors. Aflac had 43.1 million shares available for purchase as of the announcement. The repurchase was funded with internal capital, and the repurchased shares...
Source: Health Business Week (2008-09-12)
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