JACKSON CENTER, Ohio -- Thor Industries, Inc. announced today that it purchased shares of its common stock from the estate of Wade F. B. Thompson in a private transaction.
The estate currently holds all of the stock of the late Wade F. B. Thompson, Thor's former chief executive officer. Pursuant to the terms of a repurchase agreement, 3,091,000 shares of Thor's common stock were purchased at a price of $29 per share. The repurchase transaction was evaluated and approved by directors of Thor's board who are not affiliated with the estate.

The repurchase represents 5.6% of Thor's common stock currently outstanding. Thor used available cash to purchase the shares.

SOURCE: The Auto Channel