The order will also permit company directors and senior executives who had issued sell orders shortly before the markets closed to re-enter the market and try to repurchase their company's stock.
Ribapharm produces Ribaviran, which is used to treat hepatitis C. ICN Pharmaceuticals, which owns 80percentt of Ribapharm shares, spun off 20percentt of the company last year at $10 a share and is trying to repurchase those shares for $5.60.
The New York Times reports that Niklas Zennstrom and Janus Friis, who sold Skype to eBay four years ago for $2.6 billion, are trying to raise money to repurchase the firm.
Microsoft tried to placate investors last week by stating it will spend $19 billion on share repurchases during the next few quarters, twice as fast as expected.
Even if the court eventually allows Prudential to seize the collateral assets, it is obligated to give TVT Catalog Enterprises a chance to repurchase those assets before trying to sell them elsewhere, according to the loan contract filed as an exhibit in the case.
Facebook reportedly issued these employees options without any restrictions on resale, except that it has a right to repurchase the shares if employees try to sell.
Partly as a result, companies often try to funnel money to shareholders by repurchasing shares -- something that might not otherwise be in their interest -- rather than paying dividends.
These investors are trying to force banks to buy back or repurchase loans that were packaged and sold as investments.
[C2.] Enron Buys Back $3 Billion of Debt Enron, trying to reassure investors that it has ample liquidity, began to repurchase all its outstanding commercial paper, using $3.3 billion it had borrowed from banks.
The Enron Corporation, trying to reassure investors that it has ample liquidity, began to repurchase all its outstanding commercial paper yesterday, using $3.3 billion it borrowed from banks by depleting its lines of credit.
