Shareholders' Equity

12 Months Ended

Oct. 01, 2011

Shareholders' Equity

Shareholders' Equity

7.             Shareholders' Equity

On February 16, 2011 the Company's Board of Directors approved a share repurchase program that authorized the Company to repurchase up to $200 million of common stock.  On August 15, 2011, the Company completed its share repurchase program; a total of 6.3 million shares were purchased at a volume-weighted average of $31.69 per share.  

Pursuant to the Company's Rights Agreement, each preferred share purchase right (a "Right") entitles the registered holder to purchase from the Company one one-hundredth of a share of the Company's Series B Junior Participating Preferred Stock, $0.01 par value per share ("Preferred Share"), at a price of $125.00 per one one-hundredth of a Preferred Share, subject to adjustment.  The Rights are exercisable only if a person or group acquires beneficial ownership of more than 20% of the Company's outstanding common stock or commences, or announces an intention to make, a tender offer or exchange offer that would result in such person or group acquiring the beneficial ownership of more than 20% of the Company's common stock.  The Rights expire on August 28, 2018, subject to extension.