Varian’s board of directors has authorized the repurchase of up to $100 million in shares of its common stock.
The new repurchase program is effective until Dec. 31, 2009, according to the Palo Alto, Calif.-based company.
Stock repurchases under this program may be made in the open market or in private transactions, at times and in amounts that management deems appropriate, Varian said. The timing and actual number of shares repurchased will depend on a variety of factors, including price and regulatory requirements, according to the company.
Varian said its previous $100 million stock repurchase program, which was approved in January 2007 and effective until Dec. 31, 2008, was completed in February 2008.