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OKLAHOMA CITY — Following its Dutch Auction Sonic expects to repurchase about 19 percent of its outstanding common stock. (Read also Sonic modifies Dutch Auction)
 
The Oklahoma City drive-in restaurant chain said it expects to accept about 15.9 million shares at $23 each, for a total of $366.9 million.
 
In the Dutch auction, Sonic offered to buy back up to $24.3 million shares at between $19.50 and $23, for a maximum aggregate of $560 million.

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