NEW YORK (GenomeWeb News) - Life Technologies said today that its board has authorized the repurchase of up to $500 million in shares.
The program authorizes the company's management to repurchase shares on the open market or in privately negotiated transactions.
"Given our continued outlook for significant free cash flow generation, we believe the company is in strong financial position to meet both our capital requirements to invest for future growth, while also returning excess cash to shareholders," Gregory Lucier, CEO and chairman of Life Tech, said in a statement.