XL Capital plans $1b share buyback
Created: Feb 26, 2007 10:00 AM
XL Capital Ltd. announced today it will buy back as much as $1 billion of its shares.Purchases will be made from time to time either in the open market or through privately negotiated transactions, XL said.The buyback represents as much as 7.6 percent of the company's shares outstanding, or 13.7 million shares, based on Friday's closing price of $72.90., Bloomberg News said.
XL Capital Ltd. announced today it will buy back as much as $1 billion of its shares.
Purchases will be made from time to time either in the open market or through privately negotiated transactions, XL said.
The buyback represents as much as 7.6 percent of the company's shares outstanding, or 13.7 million shares, based on Friday's closing price of $72.90., Bloomberg News said.
XL's shares rose 17 cents to $73.07 at 10:28 a.m. in New York Stock Exchange composite trading.
