Novo profit, buyback plan boost stock
Article Abstract:
Novo Nordisk AS intends to allot as much as three billion kroner to repurchase outstanding shares. The company's shareholders authorized the share-repurchase program at its annual meeting in March 1998. The program is a strategy aimed to improve the Novo's weak market valuation and alleviate the criticisms of investors on the firm's management. Novo deputy chief executive Kurt Anker Nielsen stated that the company knew it was time to repurchase some stock after realizing that the firm has long been overcapitalized.
Comment:
Intends to allot as much as 3 billion kroner to repurchase outstanding shares
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
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Hoecsht outlines forecast for growth of divisions
Article Abstract:
Hoechst AG is predicting that it will see strong profit growth in its life-science business for the 1999 year. However, the company also cautioned that its industrial chemicals divisions would experience difficulties. Hoechst' industrial chemicals divisions are scheduled to be divested as part of the company's proposed merger with Rhone-Poulenc SA. The merger's timetable has been accelerated.
Comment:
Predict strong profit growth in its life-science business for the 1999 year
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1999
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