I reckon they could afford to buy back say 7.5% of SOI which would cost around $480m @ $10 p.share. It should be done the same % for everyone and you can bid into the pool if you want a higher % (only available if some shareholders don’t take up their full 7.5% amount).
If LE doesn’t participate they could double the buy back to 15% which would cost roughly $415m. Either way they should have about $900m cash to play with by end of March next year (after paying the just announced divvy).
