Thermo Electron announces $100 mln debt, equity buyback authorization

New York, Nov. 6 - Thermo Electron Corp. said it has authorized buybacks over the next year of $100 million of its own debt and equity securities, either in the open market or in negotiated transactions.

The timing and amount of any repurchases will be at the discretion of company management and will depend on market conditions and other corporate considerations, the Waltham, Mass. instruments company said. The authorization expires Nov. 6, 2002.

Thermo Electron had $171 million of senior convertible debt, $147.5 million of senior notes and $1.16 billion of subordinated convertible notes outstanding on June 30, 2001, according to the company's most recent quarterly report filed with the Securities and Exchange Commission.

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