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Unisys Board OKs $50M Share Buyback

Unisys logo_GovConWireThe board of directors at Unisys Corp. (NYSE: UIS) has approved a plan to repurchase up to $50 million of the company’s shares through Dec. 31, 2014.

Both common stock and mandatory convertible preferred stock are covered under the plan, the company said.

Purchases can include transactions in the open market, including 10b5-1 plans, or through private negotiations.

Share repurchases may be suspended or discontinued at any time, the company said.

Both Northrop Grumman (NYSE: NOC) and Harris Corp. (NYSE: HRS) are also undertaking share repurchase plans, with Northrop planning to buy back $2 billion in shares.

Harris plans to repurchase $200 million shares after it closes the sale of its broadcast group to a private equity firm.

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