Lorillard (LO) Announces $250M Share Buyback, Plans To Pursue Debt Offering
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Lorillard, Inc. (NYSE: LO) announced that its Board of Directors has approved a share repurchase program, authorizing the Company to repurchase in the aggregate up to $250 million of its outstanding common stock.
In addition, the Board of Directors has also authorized management to proceed with its previously announced intent to enhance its capital structure through a debt financing in order to reduce the Company's cost of capital and improve shareholder returns.
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