Microsoft Corp. (MSFT) Announces Tender Offer Results, Increases Stock Buyback Plan by $16.2 Billion
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Microsoft Corp. (Nasdaq: MSFT) announced the preliminary results of its modified "Dutch Auction" tender offer, which expired at 12:00 midnight, Eastern Time, on Thursday, August 17, 2006.
Based on the preliminary count by the depositary for the tender offer, Microsoft expects to acquire approximately 155 million shares of its common stock at a price of $24.75 per share for a total cost of approximately $3.8 billion. These shares represent approximately 1.5 percent of the shares outstanding.
The company also announced that the authorization for its ongoing share repurchase program, previously announced on July 20, 2006, has been increased by approximately $16.2 billion. As a result, the company is authorized to repurchase additional shares in an amount up to $36.2 billion through June 30, 2011.
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Equity OfferingsStock Buybacks
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