WALTHAM, Mass.—Novell Inc. said Tuesday that its board approved the repurchase of up to $100 million of the software company's outstanding shares of common stock.
Based on the company's Tuesday closing stock price of $6.50, the buyback represents about 4.4 percent of Novell's outstanding stock. There is no fixed expiration date for the program.
Novell shares rose 12 cents in Tuesday's trading.
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