Courtesy of Benzinga.
OpenTable, Inc. (Nasdaq: OPEN), today announced that its Board of Directors has approved a $50 million share repurchase program.
Under the share repurchase program, OpenTable is authorized to repurchase up to $50 million of its outstanding shares of common stock. Any share repurchases made pursuant to the program will be made from time to time in the open market, in privately negotiated transactions or otherwise. The timing and amount of any shares repurchases will be determined by the Company’s management based on its evaluation of market conditions, the trading price of the stock, regulatory requirements and other factors. The Company expects to fund the share repurchase program through cash and short-term investments. The share repurchase program may be suspended, modified or discontinued at any time at the Company’s discretion without prior notice.
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