Mesa said it plans to repurchase 10% of its stock.

The company said its board has authorized spending up to $100 million for repurchasing shares, enough to buy about 6.9 million of its 67 million common shares outstanding at the price of $14.50 a share that prevailed before the offer was announced. Mesa said the stock buy-back plan requires the consent of certain lenders and will be conducted “from time to time through open market purchases.”