DETROIT - Directors of NBD Bancorp authorized the repurchase of up to 7 million shares of the corporation's common stock. Purchases would be made from time to time on the open market or in privately negotiated transactions.
Shares purchased under the authorization, if any, would be used for general corporate purposes, including employee stock award programs, future acquisitions and other appropriate uses. As of June 30, NBD Bancorp had 160,557,393 common shares outstanding.
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