The decision was prompted by THQ's strong cash position and the company's current stock price, which closed at $22.89 in today's trading. The company currently has 39.6 million shares of common stock outstanding, and as of June 30, it had $173 million in cash.
"We believe our stock is a good investment," said Brian Farrell, president and CEO, THQ. "We think our current share price is not a true reflection of our proven track record and outlook for future growth."
