Adobe enters into stock repurchase agreements for $400 Million

By siliconindia   |   Friday, 09 July 2010, 17:15 IST
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Bangalore: Adobe Systems announced that it has entered into structured stock repurchase agreements with large third-party financial institutions for the repurchase of $400 million of its common stock. Adobe will repurchase shares under the agreements as part of the $1.6 billion stock repurchase authorization. The number of shares repurchased under the agreements will be based on a discount to the volume weighted average share price of Adobe’s stock over the duration of the contracts. In addition to the agreements entered, Adobe also has outstanding a $250 million structured stock repurchase agreement recently, of which approximately $165.3 million of up-front payments remain.

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