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Melrose ( (GB:MRO) ) has provided an announcement.
Melrose Industries PLC announced the purchase of 72,500 of its own ordinary shares through J.P. Morgan Securities plc at a weighted average price of 551.6293 GBp per share. The company intends to hold these shares in treasury, increasing its treasury holding to 65,127,341 shares with 1,286,347,980 ordinary shares in issue, excluding treasury shares. This buyback is part of Melrose’s ongoing share repurchase program, which could be seen as a move to enhance shareholder value by reducing the number of shares available in the market, potentially increasing the value of remaining shares.
More about Melrose
Average Trading Volume: 4,233,147
Technical Sentiment Consensus Rating: Strong Sell
Current Market Cap: £7.12B
For a thorough assessment of MRO stock, go to TipRanks’ Stock Analysis page.
