This article was originally published in The Gray Sheet
Executive SummaryCompany will repurchase up to $50 mil. of its own securities and those of its publicly held subsidiaries over the next 12 months, Thermo Electron reports May 26. Under authorization of the board of directors, the firm will "repurchase these securities when they are available at prices the company considers attractive, or to maintain the required ownership of such subsidiaries for accounting and/or tax consolidation." Thermo Electron also is allowed under previous board authorization to repurchase roughly $26 mil. of its own securities or those of its subsidiaries through January 1999
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