Tronox Inc. (TROX)

[fuller11]

"On June 26, 2012, the company's Board authorized the repurchase of 10 percent of the company's Class A and Class B shares in open market transactions. During the third quarter, the company repurchased 12,541,400 Class A Shares at an average price of $25.85 per share, inclusive of commissions, for a total cost of $324.2 million. During the entire period following the authorization, the company repurchased 12,626,400 Class A Shares, representing 10 percent of total shares outstanding, at an average price of $25.84 per share, inclusive of commissions, for a total cost of $326.2 million. On September 27, 2012, the company announced the successful completion of the share repurchase program."

I guess normally when a company repurchases shares you would expect the pps to go up. If management had any competance they should have seen a slow down going forward and should have waited to buy back shares. They could have purchased almost 5.5 million more shares. In reality they should have paid us that "fat" dividend that they alluded to in BK exit. I gues successful means different things to different people. All I can say it that they better never do a share offering in the future!