Microsoft to buy back stock for $40 billion
Microsoft today announced the final results of its "Dutch Auction" tender offer in which the company agreed to purchase 1.5% or 154,517,593 shares of its outstanding common stock at a price of $24.75 per share, totaling a cost of $3.8 billion. Microsoft said that it will purchase additional shares the amount of up to $36.2 billion through 30 June 2011. The company said that it has about 9.8 billion shares outstanding at this time.
Microsoft stock was down 4 cents or 0.16% to $25.63 in early Thursday afternoon trading.