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Applera Board Okays Applied Biosystems Stock Buyback

Aug 29, 2003

NEW YORK, Aug. 29 (GenomeWeb News) – Applied Biosystems said today that its repurchase of up to $200 million of its common stock has been approved by the board of directors of its parent firm, Applera.

Foster City, Calif.-based Applied Biosystems said that the authorization supplements its existing authority to replenish shares issued under its employee stock benefits plan. The authorization has no time restrictions, the company added, and calls for the stock buyback to be made at times and prices management deems appropriate through open market purchases, privately negotiated transactions, tender offers, exchange offers, or otherwise.

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