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Take the whole operation private, via a repurchase plan the company announced earlier this week.
Banks that need cash borrow against their Treasury bills overnight, in what is known as a repurchase agreement.
It should not have been "BCE will maintain an investment grade rating, otherwise we will negotiate a repurchase or other salve if BCE loses that rating".
The acquisition that caught the S.E.C.'s attention was a repurchase of a subsidiary Jacuzzi had sold while still guaranteeing its debt.
G.M. has already bought back $9 billion of its stock, amounting to 18percentt of the total, since embarking on a repurchase program in 1997.
Because that exceeded the vested percentage, Mr. Shelat signed a repurchase agreement that allowed the company to buy back any stock he purchased with the unvested portion.
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Last year, Kodak bought back about $925 million of its stock under a repurchasing program announced in April 1999.
Another example is a repurchasing agreement, or repo, where a player such as a hedge fund could sell government bonds it owns to a bank, agreeing to repurchase them later.
The company has been criticized for the $7-a-share repurchase price for stock bought by venture capitalists and executives.
Companies can authorize a share repurchase for a number of reasons.
As in Zollars' case, the companies typically retain a right to repurchase a portion of those shares at the grant price if the executive screws up.
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