Cooper-Standard may buy back 7% cumulative convertible preferreds

By Susanna Moon

Chicago, May 24 - Cooper-Standard Holdings Inc. said its board of directors approved a repurchase program to buy back up to $50 million of its outstanding common stock, 7% cumulative participating convertible preferred stock or warrants to purchase common stock.

The repurchases may be made on the open market or through private transactions, using cash on hand and future cash flows from operations, according to a company press release.

Cooper-Standard is a Novi, Mich.-based supplier of systems and components for the automotive industry.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.