Amadeusz Juskowiak

United merchants umm to buy its own stock

United Merchants and Manufactuerers Inc said its board has authorized the repurchase of up to one mln shares of the companys common stock

The company now has about 91 mln shares outstanding

It said the stock will be acquired from time to time on the open market depending on market conditions and other factors The number of shares purchased and the timing of the purchases are also subject to restrictions under certain of the companys debt instruments it added

Reuter