retract re‧tract [rɪˈtrækt] verb [transitive]
1. FINANCE if a company retracts bonds, shares etc, it takes them off the market by buying them back from investors; = RETIRE:
• It will use its credit line to retract C$53.3 million in preferred shares.
2. to make an official statement saying that something you said earlier is not true:
• A key witness has retracted his testimony (= a statement in a law court ) a year after the conviction.
— retraction noun [countable, uncountable] :
• The retraction of its preferred shares will be completed as scheduled.
• Some newspapers ran retractions of stories they had printed.
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retract UK US /rɪˈtrækt/ verb [T]
► to take back an offer or statement, etc. or admit that a statement was false: retract a statement/comment/decision »
A political uproar followed, and he quickly retracted his comments.
retract an offer/a bid »The EPA then retracted the offer with little explanation.
»retract an endorsement/accusation/criticism
Financial and business terms. 2012.