Mirant Plans Stock Buyback

The board authorizes a $100 million repurchase.
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Mirant

(MIR)

said its board authorized a $100 million share-repurchase program that will run until Sept. 30, 2007.

The energy company plans to buy back stock, as business conditions warrant, on the open market or in negotiated transactions.

As of Sept. 8, Mirant had about 257 million shares outstanding and roughly $1 billion in cash and short-term investments.