Lear board boosts buyback

SOUTHFIELD (AP) -- Lear Corp. said Wednesday that its board approved a $300 million increase to its share buyback program, boosting the total value of the program to $700 million.

The buyback expires on Feb. 16, 2014.

Through the end of last year, the Southfield, Mich.-based auto supplier had repurchased $279 million of stock under its previous $400 million share buyback.

In morning trading, Lear shares fell 62 cents to $41.05.

Published: Fri, Jan 13, 2012