Autoliv increases rate of share buybacks

Autoliv said its current repurchase program authorizes it to buy a remaining 4.9 million shares at a pace the company deems appropriate.

The company does not specify a fixed rate at which the shares will be repurchased, but all repurchase activity is published on the company's Web site, an Autoliv spokesman said.

On Tuesday, the Sweden-based company said it was acquiring the automotive radar sensors business of Tyco for $42 million. The deal is expected to close by the end of September 2008.

Shares of Autoliv rose $1.50, or 3.9 percent, to $39.85.

Tyco shares slipped $1.46, or 4.1 percent, to $34.11.