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Tree.com to repurchase stock

Charlotte-based Tree.com, the parent company of LendingTree, said Thursday it plans to repurchase up to $15 million of its common stock.

The stock will be bought for $7.25 to $7.75 per share.

The company said it will have to determine the lowest price per share that will enable it to buy up to $15 million in shares.

At the minimum price of $7.25 per share, Tree.com would repurchase a maximum of 2.06 million shares, about 18.7 percent of its outstanding common stock.

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