Courtesy of Benzinga.
General Cable Corporation (NYSE: BGC) announced:
“Given the Company’s solid balance sheet and the strong long-term fundamentals for global energy infrastructure investment, the Board of Directors has authorized management to purchase up to $125 million of General Cable common shares in the open market over the next year,” Kenny said. “We will utilize this buyback authority in the context of economic conditions and alternative capital uses. Concurrently, consistent with our growth strategy, we will stay on the offensive as our liquidity position coupled with strong operating cash flow allows us to continue to pursue the numerous global opportunities we see and anticipate.”
