Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

Wednesday, April 25, 2007

IBM Announces $15 Billion Buyback

IBM announced it will borrow money and buy back about $15 billion of its shares, resulting in a 10% of its outstanding shares.  According to its treasurer, IBM is "very underleveraged" for its size and cash flow.  At its annual meeting 52% of the shareholders voted for a nonbinding "majority vote" resolution for directors.  See WSJ, IBM to Spend $15 Billion In Expanded Stock Buyback.

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