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Share Repurchase Plan
3 Months Ended
Jul. 01, 2011
Share Repurchase Plan  
Share Repurchase Plan

11.  SHARE REPURCHASE PLAN

 

On March 23, 2011, the Company's Board of Directors authorized the repurchase of up to $200.0 million of the Company's outstanding ordinary shares.  Share repurchases are made in the open market at such times and in such amounts as management deems appropriate.  The timing and number of shares repurchased depends on a variety of factors including price, market conditions and applicable legal requirements.  The share repurchase program does not obligate the Company to repurchase any specific number of shares and may be suspended or terminated at any time without prior notice.  During the three-month period ended July 1, 2011, the Company repurchased approximately 29.0 million shares for an aggregate purchase price of $200.0 million, and retired all of these shares. 

 

On July 18, 2011, the Company's Board of Directors authorized the repurchase of up to an additional $200.0 million of the Company's outstanding ordinary shares, subject to shareholder approval at the 2011 Extraordinary General Meeting of the Company's Share Purchase Mandate. The Share Purchase Mandate was approved by the Company's shareholders at the 2011 Extraordinary General Meeting on July 22, 2011.