Company annouces intentions to buyback second round of $1bn in common stock
MetLife has announced that its board of directors has authorised an additional $1bn in common stock repurchases.
The company can repurchase stock under this authorisation after the completion of an earlier $1bn authorisation that was announced on 25 September 2007 and of which approximately $61m currently remains.
Common stock repurchases may be made through purchases from the MetLife Policyholder Trust, in the open market and through privately negotiated transactions.
The timing of open market and privately negotiated purchases will be dependent upon market conditions and other corporate considerations. The common stock repurchase program may be modified, extended or terminated by the board of directors at any time.
