Brightpoint Inc. (CELL) announced that the board of directors has approved the increase of its previously announced share repurchase plan by $30 million, allowing aggregate share repurchases of up to $80 million.
The company has entered into an agreement with Partner Escrow Holding A/S, an affiliate of NC Telecom Holding A/S for the purchase of 9.19 million shares at $6.20 per share. The closing is anticipated to occur on or about January 15, 2010.
In addition, Brightpoint granted a put option on up to 812,836 shares exercisable by certain individuals within 2 days at $6.20 per share.
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