, New York, authorized a stock repurchase plan under which the company may repurchase up to 5 million shares of its outstanding common stock. The shares may be purchased from time to time at prevailing market prices, depending upon market conditions and at the company's discretion. Under the program, the purchases will be funded from available working capital, and the repurchased shares will be held in treasury or used for ongoing stock issuances under employee stock plans. As of Dec. 31, 2000, Razorfish had about 98.3 million shares outstanding. The agency said the stock-repurchase plan "demonstrates our commitment to enhancing shareholder value."
Copyright January 2001, Crain Communications Inc.