Cendant confirms $500 mln buyback (CD) 17.45 0.04: -Update- Co announcest it has entered into an agreement with a broker-dealer that specifies the parameters under which up to $500 mln of open-market repurchases may be made on the co's behalf. The co also stated that it was exploring the possible acceleration of the effectiveness of the previously announced separation of the co into four independent, publicly traded, pure-play companies. This acceleration may allow the first two spin-offs, Real Estate and Hospitality, to occur in mid- second quarter.
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