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Magna repurchases nearly 5.7 million shares

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Magna repurchases nearly 5.7 million shares

Magna International Inc. bought 5,742,454 shares between Nov. 15 and Dec. 18 under its program to repurchase and cancel 33.2 million common shares.

The company said Dec. 19 that it entered into an agreement with a broker to establish a pre-defined automatic securities plan to facilitate the repurchase program, which expires Nov. 14, 2019.

The automatic plan will be implemented Jan. 2, 2019.