This excerpt taken from the EAT 10-K filed Aug 27, 2007.
This excerpt taken from the EAT 10-Q filed May 7, 2007.
10. SUBSEQUENT EVENTS
In April 2007, we announced a plan to return capital to shareholders through an accelerated share repurchase (ASR) transaction for $297 million in common stock. The number of shares to be repurchased will be determined based on the volume weighted average share price during a specified period of time, subject to certain provisions that establish a minimum and maximum number of shares that may be repurchased. The purchases will be executed by a broker-dealer over a time period not to exceed five and one-half months from the initial execution date. Shares repurchased under the ASR will be held as treasury shares. Under no circumstances will we be required to deliver shares or cash upon settlement to the broker-dealer in this transaction.
In April 2007, we also entered into an agreement for a one-year unsecured committed credit facility of $400.0 million. The facility bears interest at LIBOR plus an applicable margin, which is a function of our credit rating at such time, but is subject to a maximum of LIBOR plus 1.0%. The new credit facility will be used to fund the ASR and for general corporate purposes.