SAN FRANCISCO (Thomson Financial) - Administaff Inc. late Wednesday approved
a 1-million share expansion of its share repurchase program, bringing its total
current stock buyback authorization to 1.3 million shares.
The Kingwood, Texas-based provider of human resources services also extended
the expiration date of its existing stockholder rights plan from Feb. 9, 2008,
to Nov. 13, 2017. The change in date is intended to protect the company from
acquisition against the wishes of its board and is not in response to any
accumulation of shares or hostile takeover attempt, the company said.
Shares of Administraff closed the regular session down 65 cents at $33.85.
Brigid Gaffikin
bg/gm
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