As promised, LPL Financial, parent company of the nations largest independent broker-dealer, will continue its policy of returning capital to shareholders by agreeing to repurchase nearly 2 million shares of its common stock.
Hot on the heels of record revenues for 2013, LPL has entered into a share purchase agreement to buy 1.9 million shares for $100 million at $52 per share from TPG Global, a Fort Worth, Texas-based private equity firm that was one of the companys original investors.
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