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Albemarle Buys Back Shares

3:07 PM MST | February 18, 2008 | Chemical Week Editorial Staff

Albemarle has repurchased four million shares of its outstanding common stock, approximately 4% of its total outstanding shares, from the Gottwald family for $149 million, or $37.22/share, says an SEC filing. The Gottwald family, Albemarle’s largest shareholder, now owns an 11% stake in Albemarle, following the sale of 1.12 million shares in November and 500,000 shares last May. William M. Gottwald currently serves as chairman of Albemarle’s board, and John D. Gottwald is a board...

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