Qualcomm said it will repurchase up to $10 billion in company stock through the 'modified Dutch auction', with repurchase prices between $60 and $67.50 per share. Yesterday, Qualcomm shares closed at $62.04 per share.
The deadline for stock repurchase is 12 midnight on August 27, 2018, New York time. Qualcomm believes that the stock repurchase is an effective way to repay shareholders. In addition, this is only a Qualcomm's larger share repurchase program. Part. Qualcomm expects to repurchase up to $30 billion in stocks by the 2019 fiscal year.
Qualcomm previously said that if the acquisition of NXP Semiconductors is not approved by the Chinese Ministry of Commerce before July 25, it will abandon the transaction. To boost the company's stock price, Qualcomm will choose to buy back 20 billion to 30 billion US dollars. Stock.