Business Services Industry
Forest City Enterprises Inc. announces plan to repurchase stock
Business Wire, Oct 14, 1996
CLEVELAND--(BUSINESS WIRE)--Oct. 14, 1996--Charles A. Ratner, president and chief executive officer of Forest City Enterprises Inc. (AMEX:FCEA and AMEX:FCEB), announced today that the company's board of directors has authorized management to purchase up to an additional 250,000 shares total of the company's Class A and Class B common stock on the open market.
Forest City Enterprises Inc. has already repurchased 250,000 shares of its common stock during 1996.
The company currently has 5,126,098 shares of Class A and 3,615,516 shares of Class B common stock outstanding.
Forest City Enterprises Inc. is a major national real estate development and management company that owns more than $2.4 billion of properties at cost. The company is active in 20 states and the District of Columbia. Its corporate headquarters is located in Cleveland, with regional offices in New York, Boston, Los Angeles, Chicago, Portland, Tucson, Detroit, and Washington, D.C.
CONTACT: Forest City Enterprises Inc., Cleveland
Thomas G. Smith, 216/267-1200
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