Red Hat (RHT $49.55 +0.19) announced that its Board of Directors has authorized the repurchase of up to $300 million of Red Hat's common stock from time to time on the open market or in privately negotiated transactions. The new program replaces the previous $300 million repurchase program, the final $179 million of which was completed since February 28, 2013 at an average price of $49.15 per share, inclusive of commissions, for a total of 3.6 million shares. The repurchase program will be funded using Red Hat's working capital. As of February 28, 2013, Red Hat had cash and investments of approximately $1.3 billion.
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