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Aetna Board Approves $750 Million Stock Repurchase

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NU Online News Service, Dec. 8, 2003, 12:33 p.m. EST – Aetna Inc., Hartford, says its board has approved a plan to spend up to $750 million to buy back up to 10 million shares of the company’s common stock.[@@]

Aetna will pay for the shares with proceeds from employee stock option exercises, to offset dilution from the option exercises, the company says.

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Aetna now has about 150 million shares of stock outstanding.