Actionable Opportunities in Special Situations: Spinoffs, Bankruptcy, Restructurings

Stock Buybacks

Oceaneering (OII) approves new repurchase program (~10% of S/O)

Oceaneering (OII) announced today that it has repurchased 5.4 million shares of its common stock, at a cost of $354 million, since the end of the third quarter of 2014. This completed the stock repurchase program approved by its Board of Directors in 2010. Oceaneering also announced that its Board of Directors has approved a new share repurchase program under which the company may repurchase up to 10 million shares of its common stock on a discretionary basis. Ten million shares constitute about 10% of the company’s common shares currently outstanding. Source

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