By Cydney Posner
“Lots of companies have been buying back their stock in recent years, either on their own initiative because, for example, management thinks the shares are undervalued, or sometimes at the insistence of hedge fund activists bent on increasing the market price of the shares. Now, as discussed in this NYT DealBook article, an issue that not so long ago was an obvious non-starter has suddenly gained some legitimacy: is the government going to make open-market stock buybacks illegal or perhaps impose more onerous regulation on them?”…
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