Sponsorships Advertising Marketing

REEBOK INVESTORS OFFER 17 MILLION SHARES FOR BUYBACK

8.29.1996

     Reebok Int'l said yesterday that investors had tendered
about 17 million shares for repurchase, fewer than the 24 million
its board had authorized, according to the N.Y. TIMES.  Reebok
originally planned to spend as much as $864M, based on a price of
$36/share, to buy back 33% of its stock.  The company will now
spend $612.7M to buy 23%.  The company also said it will
discontinue its dividend after a final quarterly payment of $.7.5
cents/share on October 2.  The cash will be used to pay off a
bank loan that will finance the stock repurchase (N.Y. TIMES,
8/29).

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