Lear Accelerates $1B Share Buyback Plan With Investor Deal

Law360, New York (April 1, 2013, 2:51 PM EDT) -- Automotive seating and electrical distribution systems firm Lear Corp. has reached an agreement with investors Marcato Capital Management LLC and Oskie Capital Management LLC that includes an $800 million stock buyback over the next 12 months, the company announced Monday.

The deal accelerates repurchases under the company's existing $1 billion buyback program, staving off a potential proxy battle with Marcato and Oskie, which had reported stakes in Lear earlier this year and announced plans to put forth candidates for the company's board.

In connection with the...
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