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BusinessWire: Red Hat Announces Stock Repurchase Program

Sep 30, 2004, 16:30 (2 Talkback[s])


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"Red Hat, Inc... today announced that its Board of Directors has authorized the repurchase of up to $100 million of the Company's common stock from time to time on the open market or in privately negotiated transactions.

"'We believe, that based on current market prices, our stock is undervalued and that it is in the best interest of our shareholders for us to acquire shares in the open market. In addition, our repurchase program will help to offset dilution associated with our employee stock plans,' said Matthew Szulik, Chairman and Chief Executive Officer..."

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