DirecTV to buy back shares from GM pension funds


NEW YORK, Feb 27 (Reuters) - Top U.S. satellite television company DirecTV Group Inc. on Monday said it would buy 100 million of its shares back from General Motors Corp.'s pension funds for $1.55 billion, or $15.50 a share. The deal represents a 1 percent discount from Friday's closing price of $15.68 on the New York Stock Exchange. GM's benefit plans will own a total of 115 million DirecTV shares, or less than 10 percent of total outstanding shares, after the transaction is completed, ...

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