Man Group CEO Considers Stock Buyback After Redeeming Debt

Man Group Plc, the world’s biggest publicly traded hedge fund manager, said it may buy back shares or pay a special dividend as it tries to reduce its $920 million of surplus capital. The stock jumped.

The company plans to repurchase all outstanding debt to reduce surplus capital by as much as $470 million, leaving it with about $450 million by January 2014, Man Group said in a statement today. The firm may use the remaining surplus to “benefit” investors through stock buy-backs, special dividends or takeovers, CEO Emmanuel Roman told Bloomberg....

Read all about it at http://www.bloomberg.com/news/2013-05-03/man-group-ceo-considers-stock-buyback-after-redeeming-debt.html