November 5, 2007 / 1:32 PM / 11 years ago

LabCorp to buy back $500 mln shares

Nov 5 (Reuters) - Laboratory Corp of America Holdings (LH.N) said its board authorized the buyback of up to an aggregate of $500 million of its common shares.

The company plans to pursue an accelerated pace of repurchases to take advantage of the current share price which does not fully reflect the value of the company’s business or prospects, it said in a statement. (Reporting by Neetha Mahadevan in Bangalore)

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