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NEW YORK DoubleClick plans to repurchase up to $100 million of its common stock intermittently on the open market or in privately negotiated transactions, the online ad technology company said yesterday.
At today’s midday trading price of $9, that amount represents about 1.1 million of DoubleClick’s 137.6 million shares of outstanding common stock. The repurchased shares will be available to use for the company’s stock plans and other corporate purposes.
“At current levels, we believe that DoubleClick’s stock represents an attractive investment opportunity,” company CEO Kevin Ryan said in a statement.
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