AbbVie (ABBV) Plans $7.5B Tender Offer
With earnings, AbbVie (NYSE: ABBV) said it plans to commence a tender offer to purchase for cash up to $7.5 billion in value of shares of its common stock through a modified "Dutch auction" tender offer at a specified price range to be determined. AbbVie expects to commence the tender offer as early as May 1, 2018.
The tender offer forms a part of AbbVie's $10 billion stock repurchase program announced on February 15, 2018.