Qualcomm Incorporated announced on September 13, 2018, that it has entered into accelerated share repurchase agreements with each of Bank of America, N.A., Citibank, N.A. and Morgan Stanley & Co. LLC to repurchase an aggregate of $16 billion of the company’s common stock, with an initial delivery to Qualcomm of approximately 178 million shares in the aggregate.
Qualcomm $16 Billion Share Repurchase
The final number of shares to be repurchased will be based on the volume-weighted average price of Qualcomm’s common stock during the term of the transaction, less a discount and subject to adjustments pursuant to the terms and conditions of the ASR Agreements. The company is funding the accelerated share repurchase with existing cash resources.