Qualcomm $16 Billion Share Repurchase

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 RepurchaseQualcomm

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.

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