Manor Care renews stock-buyback authority

12/6/2001

The board of directors of Manor Care, Inc., has authorized the purchase of up to $100 million of the Toledo-based nursing home operator's common stock until Dec. 31, 2003.

The authorization, announced yesterday, is a renewal of similar authority granted in February, 2000. The share purchases may be used for internal stock options, 401(k) matching, and for possible acquisitions.

As of Nov. 30, the company had 102,361,390 common shares outstanding.