October 4, 2016 / 5:05 PM / a year ago

BRIEF-Sotheby's says increases share buyback by $75 mln

Oct 4 (Reuters) - Sotheby’s

* Company’s Payments Under Share Repurchase Agreement Were Funded With Cash On Hand.

* Entered Into A Share Repurchase Agreement With Funds Managed By Marcato Capital Management LP

* Agreed To Purchase 2 Million Shares Of Co’s Common Stock For $73.8 Million

* On September 30, 2016, Company’s Board Of Directors Approved A $75 Million Increase To Company’s $325 Million Share Repurchase Authorization

* Approximately $40 Million Remains Authorized And Unused Under Company's Increased Share Repurchase Authorization Source (bit.ly/2d0DVPN) Further company coverage:

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