Mondelez (MDLZ) Approves Buyback Up to 40M Common or $1.2B

March 13, 2013 9:02 AM EDT
Mondelez International, Inc. announced (Nasdaq: MDLZ) that its Board of Directors has authorized the repurchase of up to the lesser of 40 million shares or $1.2 billion of Mondelez International's Class A Common Stock. The primary purpose of the program will be to offset dilution from the company's equity compensation plans.

The shares will be repurchased from time to time in one or more open market transactions, privately negotiated transactions or a combination of the foregoing, at the discretion of Mondelez International. Repurchases will be subject to market conditions and other factors.

The authorization to repurchase shares will end in three years, unless it is terminated or extended by the Board of Directors.

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