XPO | Con-way Repurchases 3.75 Million Common Shares

IR CookieMonster

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Monday May 22, 4:05 pm ET
Transactions Executed Under Recently Expanded $400 Million Share Repurchase Plan

SAN MATEO, Calif., May 22 /PRNewswire-FirstCall/ -- Con-way Inc. (NYSE: CNW - News) announced today the buyback of 3.75 million shares of common stock, representing 7.2 percent of the Company's total shares outstanding, in private transactions valued at approximately $221 million. Con-way acquired the shares under its previously announced $400 million share repurchase program, which was authorized by the company's Board last month.


http://biz.yahoo.com/prnews/060522/sfm026a.html?.v=1
 
No Freight said:
Does this mean anything to us as employees?
If someone wanted to buy you out getting the stocks would be the way to go.Right,Anyone.
 
Conway buying back their own stocks gives them more shareholder votes...should they need votes for any reason...
 
RevItUp said:
Conway buying back their own stocks gives them more shareholder votes...should they need votes for any reason...
Could it be maybe something went wrong or didn't go right with the share holder election or the the proxy vote.Just shooting in the air to see what I may hit.
 
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