Qualcomm: starts 10 billion dollar share buybacks
(CercleFinance.com) - Qualcomm is initiating a tender offer to buy back up to 10 billion dollars of its common shares, the US mobile phone component maker said.
The San Diego-based company has started a "modified Dutch auction" tender at a price of not less than 60 dollars, and nor greater than 67.5 dollars per share in cash, it said.
Last week, Qualcomm announced that it has abandoned the acquisition of NXP Semiconductors and has launched a stock repurchase program of 30 billion dollars, replacing a previous authorization of 10 billion dollars.
The chipmaker said it expects to execute the majority of these share repurchases before the close of fiscal year 2019.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The San Diego-based company has started a "modified Dutch auction" tender at a price of not less than 60 dollars, and nor greater than 67.5 dollars per share in cash, it said.
Last week, Qualcomm announced that it has abandoned the acquisition of NXP Semiconductors and has launched a stock repurchase program of 30 billion dollars, replacing a previous authorization of 10 billion dollars.
The chipmaker said it expects to execute the majority of these share repurchases before the close of fiscal year 2019.
Copyright (c) 2018 CercleFinance.com. All rights reserved.