re·pur·chase 1 /ˌrē-'pər-chəs/ vt -chased, -chas·ing: to buy back
repurchase shares of stock
repurchase 2 n: the act or an instance of purchasing something again or back; specif: a corporation's buying back of some of its stock at market price (as to increase the amount of Treasury stock or as a preliminary step to going private)
Merriam-Webster’s Dictionary of Law. Merriam-Webster. 1996.