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Albemarle Buys Four Million Shares From Gottwald Family
11:54 AM MST | February 8, 2008 | CW Editorial Staff
Albemarle has repurchased four million shares of its outstanding common stock, approximately 4% of its total outstanding shares, from shareholders the Gottwalds for $149 million, or $37.22/share, according to an SEC filing yesterday. Albemarle’s stock traded at $38.02/share earlier today. The Gottwald family now owns an 11% stake in Albemarle, following the sales of 1.12 million shares in November and 500,000 shares last May. Currently, William M. Gottwald serves as chairman of Albemarle’s board, and John D. Gottwald is a board member. The acquisition...
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