U.S. Bancorp said Wednesday it repurchased its warrant held by the Treasury Department for $139 million.

The 10-year warrant was issued Nov. 14 as part of the company's participation in the Treasury's Capital Purchase Program and entitled Treasury to purchase 32,679,102 shares of the company's common stock for $30.29 per share.

Richard K. Davis, the Minneapolis company's chairman, president and chief executive officer, said in a press release: "We are very pleased to have completed the repurchase of the warrant, effectively concluding U.S. Bancorp's participation in the Capital Purchase Program."

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