Applied Materials (AMAT) Announces $3B Share Repurchase Plan Amid Merger Termination

With news the company and and Tokyo Electron have terminated merger plans, Applied Materials (NASDAQ: AMAT) anounced that its Board of Directors has approved a new share repurchase program authorizing up to $3 billion in repurchases over the next three years beginning in the third quarter of fiscal 2015.

"We are pleased to announce this new share repurchase program," said Gary Dickerson, president and chief executive officer of Applied Materials. "This program reflects our confidence in our performance and opportunities as well as our strong commitment to shareholder returns."

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