Intel: accelerates share repurchase agreements
(CercleFinance.com) - Intel announced on Wednesday evening agreements for accelerated share buybacks of 10 billion dollars of its own shares, which the microchip giant will pay for with existing funds.
Under the terms of the agreements, the Santa Clara, California based group will receive an initial delivery of around 166 million shares, with final settlement expected towards the end of 2020.
Upon completion of these agreements, Intel will have repurchased a total of approximately 17.6 billion dollars out of the 20 billion dollars of planned share repurchases, as announced in October last year.
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